High Levels Of Debt Tied To Poor Health, Lower Productivity

Wednesday, August 29th, 2018
Updated: August 29th, 2018
The content is accurate at the time of publication and is subject to change.

No one likes being in debt, but a recent study from Fidelity showed that having high levels of credit card debt, medical bills, student loans, and other financial stressors could actually be hazardous to your heath. Not only that, but being in debt can actually sap workers of productivity, preventing them from doing the very thing that could help them climb out of debt: excel at work.

The Total Well-Being survey, conducted by Fidelity, included responses from 9,315 workers across the nation, all of whom have retirement accounts with Fidelity. Participants included people ages 21 through 75, with a median age of 45, and were fairly evenly distributed according to gender. Two-thirds of participants had a college degree.

Paying off debt, saving money cause stress

Ninety-eight percent of those surveyed said they’d felt anxious sometime in the past three months, and much of that anxiety was linked to money. Thirty-four percent said they felt stressed about saving for the future, and 33 percent were worried about paying off debt. Other stressors included jobs (47 percent) and weight management (30 percent).

Being in a lot of debt seemed to cause more absenteeism at work; respondents with the highest levels of debt reported missing work twice as often as those with lower amounts of debt. Although medical debt was the leading indicator for workplace absenteeism, student loan debt and credit card debt also caused stress for many people.

Lower interest rates, balance transfers can help lower debt

For those who struggle to pay off debt, and whose overall wellness is being impacted by high levels of debt, getting a low interest credit card can be a good way to keep debts down. Unpaid charges on a credit card with a high APR can easily spiral out of control, causing folks to get in over their head financially. But a lower interest rate can keep payments more manageable. Anyone with a good or even average credit score can get access to a credit card for fair credit.

Balance transfers are another easy way to pay off debt faster. By transferring the debt to a card with a 0% interest rate, the amount can get paid off quickly, making it easier to set aside money for savings.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Latest Fair Credit Credit Card News

Monday, March 2nd, 2020

Once your credit score crossed the “fair” line, on the one hand, you may feel a sense of relief, since you finally got out of bad credit. On the other hand, good credit may still seem so distant.

Tuesday, February 4th, 2020

It is no secret that the employers’ goal is to find a responsible and reliable candidate. And since a good credit history is one of the indicators of trustworthiness, HR specialists of some companies can check potential employees’ credit reports. Sometimes, credit checks may also be conducted by your current employer in case they are giving you a promotion. But the question is whether you should worry if your score is less than perfect.

Tuesday, April 30th, 2019

The new Apple Card credit card has already managed to make a stir. If you are among those who have thoroughly studied all its main features, who fall asleep and wake up dreaming of the 3% cash back* and are counting days till the card’s release this summer, then you must have one more question – “Can I qualify for it?”

Tuesday, February 27th, 2018

Coffee drinkers are in for a treat with the new Starbucks Rewards Visa card, a co-branded credit card for folks who love coffee – and credit card rewards.
Whether you have fair credit, are just starting to build a credit score, or already have good credit, you can apply for the new Starbucks Rewards Visa card from Chase. The card is integrated directly into the Starbucks Rewards customer loyalty program, so it’s easy to redeem rewards. The card is accepted worldwide everywhere that accepts Visa, and rewards can be redeemed for free drinks and snacks at over 8,000 Starbucks locations around the globe.

Wednesday, September 13th, 2017

J.D. Power’s latest customer satisfaction survey brings good news for American Express cardholders – but they might already be aware of it. Not only did Amex score the highest for great customer service, they outpaced the industry average by 33 points to score the highest they ever have since the study was launched in 2007.

Best Credit Offer
Surge® Platinum Mastercard®
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 4 / 5
Horizon Card Services Group One Freedom Card
Copyright © 2001-2024 BestCreditOffers.com All Rights Reserved.

*See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by BestCreditOffers.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The BestCreditOffers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.