Jonquilyn Hill

Nick's been following the rapid growth of credit card debt, talking to banks and credit card companies and regular people dealing with debt. And he says the first thing you've got to understand about credit cards right now is interest rates.

Nick's been following the rapid growth of credit card debt, talking to banks and credit card companies and regular people dealing with debt. And he says the first thing you've got to understand about credit cards right now is interest rates.

Nick's been following the rapid growth of credit card debt, talking to banks and credit card companies and regular people dealing with debt. And he says the first thing you've got to understand about credit cards right now is interest rates.

I wonder, do people understand what they're getting into when they get these high limit, high interest credit cards and then don't pay off their balance every month? Do people even realize that they're getting a high limit, high interest credit card?

I wonder, do people understand what they're getting into when they get these high limit, high interest credit cards and then don't pay off their balance every month? Do people even realize that they're getting a high limit, high interest credit card?

I wonder, do people understand what they're getting into when they get these high limit, high interest credit cards and then don't pay off their balance every month? Do people even realize that they're getting a high limit, high interest credit card?

As you were doing that explanation, I couldn't help but hear the voice of my mom. Like I remember the first time my credit card limit got raised and I didn't add. They were just like, yeah, hey girl, you want some more thousands to spend? And my mom was like, no, that's what they want. Like, don't do it.

As you were doing that explanation, I couldn't help but hear the voice of my mom. Like I remember the first time my credit card limit got raised and I didn't add. They were just like, yeah, hey girl, you want some more thousands to spend? And my mom was like, no, that's what they want. Like, don't do it.

As you were doing that explanation, I couldn't help but hear the voice of my mom. Like I remember the first time my credit card limit got raised and I didn't add. They were just like, yeah, hey girl, you want some more thousands to spend? And my mom was like, no, that's what they want. Like, don't do it.

Is this credit card debt evenly distributed throughout demographics or are there subsets of people in the country who are feeling this a lot more?

Is this credit card debt evenly distributed throughout demographics or are there subsets of people in the country who are feeling this a lot more?

Is this credit card debt evenly distributed throughout demographics or are there subsets of people in the country who are feeling this a lot more?

I want to talk about the almighty credit score, like which is part of the reason people even get credit cards in the first place. You know, you needed to get a car. You need to get a house like you need it for all these things. What is this doing to people's credit scores?

I want to talk about the almighty credit score, like which is part of the reason people even get credit cards in the first place. You know, you needed to get a car. You need to get a house like you need it for all these things. What is this doing to people's credit scores?

I want to talk about the almighty credit score, like which is part of the reason people even get credit cards in the first place. You know, you needed to get a car. You need to get a house like you need it for all these things. What is this doing to people's credit scores?

Yeah, I guess it's like it's it's one of those things where it's like, OK, in the grand scheme, you probably need a credit card before your frontal lobe develops. But it's like, should you have a credit card before your frontal lobe develops? I don't know. I think of me at 21. No, take that away from her.

Yeah, I guess it's like it's it's one of those things where it's like, OK, in the grand scheme, you probably need a credit card before your frontal lobe develops. But it's like, should you have a credit card before your frontal lobe develops? I don't know. I think of me at 21. No, take that away from her.

Yeah, I guess it's like it's it's one of those things where it's like, OK, in the grand scheme, you probably need a credit card before your frontal lobe develops. But it's like, should you have a credit card before your frontal lobe develops? I don't know. I think of me at 21. No, take that away from her.

More with CNET's Nick Wolney when Today Explained returns.

More with CNET's Nick Wolney when Today Explained returns.