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Recent Credit Card Statistics
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Credit Card using in America has been
overwhelmingly increased though it was first introduced in mid
of 20th century. The easy medium of getting funds and convenience
of use has encouraged Americans accessing more and more credit
cards. There has been a great drawback arose that of using more
credit cards and spending excessive money in USA. As an individual
start depending on the credit card for the relative ease of
using, he/she gets encouraged to overspend.
Here are just a few recent statistics about credit card use in the United States.
Below are the some important as well as average information relates to credit card in USA:
- Average Credit Card Interest rate - 18.9%
- Balance held - $7000
- Number of credit cards per household - 10
- Late fee - $29.00
Some crucial facts on credit cards, which may be a concern to every American:
- Each year, credit card companies solicit each person
an average of seven times for a new credit card.
- More than 40% of total US households actually have
difficulties paying the "minimum monthly payment"
that their credit card companies require.
- Last year, Americans paid out more than $60 billion
in interest alone. This does not include penalties, over the
limit charges or late fees.
Did you know?
If you took the $350 monthly payment you make to one of your
credit cards and instead of paying your credit card down,
invested it at 10%, you would have $1 million in 33 years?
Sounds like a while off, granted, but it does show how credit
card payments can rob you of real retirement savings.
Credit Card Debt Statistics | Credit Card Statistics | Credit Card Fraud Statistics | College Credit Card Statistics | America Credit Card Statistics | Credit Cards Per Household |
