As the problem of using credit cards grows, Debit card started its operation to make up the gap. Credit card debt statistics show that the average American consumer owes around $9,000 in credit card debt. Some people mistake of thinking that they are using their own money while purchasing through credit cards. The average interest rate paid by the credit card holders in the US is about 14%.
In America over $1,000 per family goes on interest every year and some people owe much more than that. Americans spend over $1 trillion every year on their credit cards, and have credit card debt more than $500 billion. If this thing continues, one family in a hundred will be compelled into bankruptcy.
From credit card debt statistics collected from America, it is seen that:
Some credit card debt statistics show that people get into credit card debt as because most of the time they spend money casually. Some other reasons can be when people lose their job, or fall sick, they immerse in debt.
For more information on credit card debt statistics one may browse through searchwarp.com