Credit Card Debt NEWS

Extreme Credit Cards Facts

Published by admin on November 28, 2009

Extreme Credit Cards Facts

Find out what is the average situation in United States regarding the credit card debt. This is going to make you feel that you are not alone in your situation and you must also know that there is a way out of credit card debt.

Here are some of the most interesting facts that we’ve found regarding credit card debt:

- 51% of the American consumers have at least 2 credit cards, while 14% of them have 10 or even more credit cards.

- The consumers that have 10 or more credit cards are using at least half of their credit cards limit.

- Many of these people are not using credit cards as a tool to help them into emergency situation, but they are using them to finance a higher lifestyle that they cannot afford.

- People during the last couple of years are starting to use credit cards more often than they used to in the past.

- The average American consumer that deals with help problems and asks for help at a consumer credit counseling company has around 8 credit cards each and they do not save enough money for the moments when they run into financial emergency.

- The consumer debt in United States has rise to $876.2 billion dollars.

- In case you are going to miss just 1 or 2 payments on your credit card bills that you receive every month, the penalty fees are incredibly high. This means that the interest rate which you will have to pay will go up to 27-30%.

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