Rising Credit Card Debt Worsens Mental Health Among Americans, Survey Finds

The emotional and behavioral impacts of credit card debt on Americans have intensified from 2022 to 2025, as revealed by a recent survey conducted by Debt.com. Despite a decrease in inflation rates from 6.5% in 2022 to 2.3% in 2025, the mental health consequences of financial stress remain high. The survey, involving 1,000 U.S. adults, indicates that over 23% of respondents now skip social gatherings due to debt, a sharp increase from just over 10% in 2020. Additionally, the avoidance of dating because of credit card debt has more than doubled, from 5% in 2022 to over 13% in 2025.

Howard Dvorkin, CPA and chairman of Debt.com, pointed out the enduring effects of credit card debt, remarking, "Inflation might have dropped, but the damage is done. Credit cards are the most widespread form of debt, which means they leave the deepest scars." The survey also uncovered a significant rise in negative emotions tied to financial stress, with feelings of hopelessness jumping from 6% in 2022 to nearly 22% in 2025. Moreover, the number of people losing sleep over debt has more than quadrupled in the same timeframe.

Further insights from the survey show that 71% of participants think the ease of using credit cards adversely affects their mental health, with 43% experiencing stress after card usage. Close to 40% avoid looking at their monthly statements due to anxiety, and a quarter have applied for a credit card while feeling sad or stressed. The study also explored the mental health effects of persistent inflation and student loan debt, finding that 74% of respondents are anxious about increasing prices, and 88% of those with defaulted student loans fear wage garnishment or losing tax refunds.

Dvorkin emphasized the connection between mental health and financial stability, stating, "Our mental health is deeply connected to our financial well-being. Having open conversations and providing tools to manage debt is essential to easing the emotional burden many families face today."