How Retail Credit Cards Could Bankrupt Consumers With Record High Interest Rates

CNBC featured Stretto as a key data source in an investigation. Our bankruptcy analytics revealed a striking trend: while overall consumer bankruptcy filings rose 5.8% between 2023-2024, cases involving retail credit card debt surged 12%. This data from our software (which administers ~50% of Chapter 7 cases) shows retail credit cards becoming a disproportionate factor in consumer bankruptcies – signaling broader financial pressures on American consumers.