Credit card debt is a big problem for many Americans, and it gets even worse when you are older. A new survey shows that 52% of people aged 50 to 64 and 42% of those aged 65 to 74 carry credit card debt.

Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot.

Anyone who has lived through several iterations of the “kids these days!” generational wars probably recognizes the rhetoric elders are lobbing at Gen Z for youthful spending choices. The cold brew addiction! The RealReal splurges on Louis Vuitton!

When used thoughtfully, a credit card can smooth cash flow, offer protection on purchases and even save money. When used casually, it can quietly turn everyday spending into a long repayment cycle.

Major US banks have lashed out at Donald Trump’s proposal to cap credit card interest rates to address affordability concerns, warning the move could undercut a crucial source of industry revenue. JPMorgan,