Can credit card debt affect your Social Security benefits?

MoneyWatch: Managing Your Money Can credit card debt affect your Social Security benefits? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht May 22, 2026 / 9:43 AM EDT / CBS News Add CBS News on Google Carrying unpaid credit card debt in retirement can have a big impact on your financial health. Steve Dunning/Getty Images As the economic pressures stack up, the hurdles are continuing to strain household budgets, adding extra financial pressure to what was, for many, an already tough situation. And, while most people are feeling at least some increased financial stress, that's true for many older Americans, in particular. Part of the issue is that today's higher everyday costs, elevated interest rates, rising inflation and growing healthcare expenses have left a growing number of retirees relying on credit cards to bridge financial gaps — sometimes long after they expected to stop carrying debt altogether.That growing reliance on borrowed money is creating new concerns for people who depend heavily on Social Security income to cover their expenses in retirement. After all, when your monthly benefit check covers most or all of your essentials but leaves little room for extras, the idea of falling behind and allowing creditors to access that money via a bank levy or wage garnishment can be alarming. And for borrowers already behind on payments or facing collection calls, the uncertainty about what creditors can l...