U.S. Debt Facts (Debts Of All Kinds)
You need only to listen to the chitter chatter of nearby conversastions of anyone to know that everyone is massively in debt one way or the other. Only the 1% can afford not to be. Doesn;t sound sustainable does it? This little piece from the Depression Blog give alittle insight into just what that debt looks like..
-Mort
- Today, 46% of all Americans carry a credit card balance from month to month.
- Overall, Americans are carrying a grand total of $798 billion in credit card debt.
- If you were alive when Jesus was born and you spent a million dollars every single day since then, you still would not have spent $798 billion by now.
- Right now, there are more than 600 million active credit cards in the United States.
- For households that have credit card debt, the average amount of credit card debt is an astounding $15,799.
- If you can believe it, one out of every seven Americans has at least 10 credit cards.
- The average interest rate on a credit card that is carrying a balance is now up to 13.10 percent.
- According to the credit card calculator on the Federal Reserve website, if you have a $10,000 credit card balance and you are being charged a rate of 13.10 percent and you only make the minimum payment each time, it will take you 27 years to pay it off and you will end up paying back a total of $21,271.
- There is one credit card company out there, First Premier that charges interest rates of up to 49.9 percent. Amazingly, First Premier has 2.6 million customers.
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