Fact Check Team: Americans brace for holiday credit card bills as spending remains high

As the holiday season wraps up, many Americans are now facing the reality of their credit card bills.

According to Gallup, consumers are expected to spend an average of $1,007 on holiday gifts this year, a figure consistent with last year and still above pre-pandemic levels.

About 86% of consumers planned to buy gifts, with 56% saying they would spend about the same as last year.

However, 19% indicated they would spend more, a historically higher-than-average share.

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