(WHTM)-- Credit card debt is a big problem for many Americans, and it's even worse when you're older.

A new survey shows 52% of people between the ages of 50 and 64, and 42% of people between the ages of 65 and 74, carry credit card debt. The main reason for this is that many Americans aren't financially prepared for retirement.

Financial expert Mary Clements Evans says older Americans are filling the gap with credit cards with a high interest rate, making it especially tough for them to pay them off.

"When you're younger and you have credit card debt. It's much easier for you to get an increase in income. You know, work a part-time job. Maybe you're going to get a raise. But once you're retired, those options are not available to you anymore. So that is the big challenge," Evans said.

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