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13 Payment Cards Per Household
The average American household has 13 payment cards, including credit cards, debt cards and store cards. There are 1.3 billion payment cards in circulation in the United States. |
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Over $1 Trillion
Americans made $1.1 Trillion worth of credit card purchases in 1999. |
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$5.800 National Average
Americans carry, on average, $5,800 in credit card debt from month to month. If one were to make only the minimum payment on that debt every month, it would take 30 years to pay off - and include an additional $15,000 in interest. |
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302,829 Filings for Bankruptcy
According to the American Bankruptcy Institute, 302,829 people file for bankruptcy in the first quarter of 2000.
On average the typical credit card purchase is 112% higher than if using cash. |
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Spending More Then Earned
Over 40% of US families spend more than they earn. (Federal Reserve). |
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