Almost half of Americans carry a balance on their credit cards, a new survey finds, and paying it off is proving a challenge: Only about 30 percent of people with credit card debt say they'll be able to wipe it out this year.
A new survey of 1,000 credit card users by real estate data company Clever found that 47 percent of Americans carry a monthly balance on their credit cards. Of them, over 70 percent say that balance is more than $1,000 on average.
Over half of those surveyed, 56 percent, say they've had credit card debt for at least a year. And most will continue to carry it for years to come. Almost 20 percent estimate it will take them more than three years to pay off their debt, while roughly 8 percent say they don't know when they'll be able to pay it down.
"It's a big issue," Ted Rossman, credit industry expert for CreditCards.com, tells CNBC Make It. Especially now: The average credit card APR sits at a record-high 17.65 percent, so the interest accrued on monthly balances can quickly add up.