So many taxpayers have credit cards and some are overwhelmed with debts. It would be very nice you they can claim IRS deductions on personal credit card interests. Unfortunately, this is a no-no. The IRS allows mortgage interest tax deductions but not credit card interest tax deductions.
If anybody tries to claim tax deductions on personal credit card interests, then the IRS may find a way to send an IRS auditor that way.
There are a few types of interest expenses that a taxpayer can claim but never credit card interests. Credit card interests are among the worst types of interests and the tax payers on their own.
