Credit Card Debt

Credit card debt is running rampant in the United States today. Credit card debt is crippling our economy and ruining the lives of many families. Each year in the United States over five billion credit card solicitations are mailed. This is a huge number, five billion. Each one of these solicitations could lead to a credit card being issued. The average acceptance is around four percent.

Often, people accept credit cards mailed to them out of pride. It has become a status symbol to have several credit cards. Possession of more than one credit card often leads to unnecessary credit card debt. We have them, so we use them.

The average credit card debt incurred per household in America is $9,300 dollars per credit card. Yes, ten thousand dollars per credit card. The more alarming number is $8,650 average credit card debt per credit card in low income family. Can you say insanity!

Credit card debt is over 700 billion dollars in the United States today. This number is owed on bank credit cards. Credit card debt for other merchant cards is over 100 billion dollars in the United States. The average interest rate on credit cards in the United States is over 13 percent.

Credit card debt is out of control in America. Over 80% of American households have at least one credit card. It is our individual responsibility to get our credit card debt under control. Decreasing our credit card debt is the number one activity we can engage in to become financially stable.

You should do everything you possibly can to eliminate your credit card debt.