The number of people making minimum payments on their credit cards is the highest its been since 2012. Charlotte Stallings, a financial coach and author, shares her advice to break the pattern.

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A report from the Philadelphia Federal Reserve also shows a record-high number of Americans are only paying the minimum monthly payment on their credit card bills, peaking at nearly 11% of all accounts in the third quarter of 2024. Ted Rossman, senior industry analyst at Bankrate, joined CBS News to discuss the issue.

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