Struggling to pay bills, more Americans turn to credit cards and loans

Credit card interest rates are set rise as the Fed raises rates

More Americans who are struggling financially are using credit cards

A year ago, fewer struggling Americans paid for everyday expenses with a credit card

Inflation in the U.S. is more than three times higher than it was last year, straining Americans' finances.

Without stimulus checks and a lapse in monthly Child Tax Credit payments, Americans in dire financial circumstances are swiping credit cards more frequently compared to a year ago. But they continue to hold back from dipping into savings and retirement accounts relative to last year.