Credit card interest rates in the U.S. have surged from 14.56% to 21.47% in two years, leading to concerns about financial strain. Americans are tapping into their retirement accounts due to insufficient savings, with some borrowing against 401(k)s and facing high credit card debt levels. The credit card default rate for small lenders has hit a record high of 7.8%, the highest since 1991. Credit card balances have reached $1.05 trillion, a 13% increase from the previous year, with nearly 10% of balances being delinquent for 90 days or more. Non-mortgage interest payments are rising, particularly in car loans and credit card delinquencies, reaching the highest levels in over a decade. A significant portion of the population, including one in five adults and 28% of the country, has no retirement savings, highlighting the financial challenges faced by many Americans.