Article: You?re Not Alone: Credit Card Statistics
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You?re Not Alone: Credit Card Statistics
Do you have any idea just how common credit cards are? Let?s take a look at a few statistics from the USA.
The average family carries a balance of between $5,000 and $8,000 on all their credit cards, depending on which figures you believe. Over $1,000 per family goes on interest every year. And that?s just the average ? some people owe much more! Overall, Americans spend over $1 trillion every year on their credit cards, and owe more than $500 billion of it.
If debt continues at the current rate, then one family in a hundred will be forced into bankruptcy. Over 90% of Americans? disposable incomes are spent paying back debts. Whatever happened to saving?
Debt Costs Everyone Money.
Literally billions of dollars are being used up on...
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