Average Credit Card Debt-It Ain't Pretty.

The average credit card debt in the United States is $8,562. How bad is your credit card debt? Do you come close to this average or do you have more? It is very easy to rack up this much debt. Everywhere you go you have companies trying to get you to open up a new credit card. You can barely go Christmas shopping without opening up an account or at least adding to your existing accounts.

The American Consumer Credit Counseling company said the total U.S. credit card debt in just the first quarter of 2002 was approximately $60 billion. With an average credit card interest rate of 18.9%, you can see how these credit card companies get rich. Approximately half of all credit card holders pay only their minimum monthly requirements. There are a total of 1.2 billion credit and retail cards in North America. The average American household is solicited seven times a year by credit card companies. With the average credit card debt soaring, companies are fighting to get your business.

Here are a few more credit card debt statistics:

Total consumer credit in the country right now is $1.7 trillion. The average credit card debt is over $8,000. The total finance charges paid in 2001 total $50 billion. A whopping 78% of all U.S. households are deemed credit worthy by the lending industry. Roughly 1.3 billion credit card holders declared bankruptcy last year. With the average credit card debt so high, credit card companies are getting rich off of your purchases. For more credit card debt information, you should follow the links on this page and be sure to fill out a free information form.