As the cost of living continues to rise, a growing number of older Americans are finding themselves caught in a web of credit card debt.

Despite the apparent strength of the U.S. economy, a troubling trend has emerged: a record-high 10.75% of credit card accounts are making only the minimum payments.

Credit card fraud and identity theft often get confused, but they are distinct crimes.

The Bank of America Premium Rewards Elite Credit Card comes with a hefty $550 annual fee.

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