The statistics are overwhelming and continue to get worse each and each year. In the current tough economic times it is anticipated that at least 1% or one in a hundred American families will be forced to declare bankruptcy sooner or later and that over 90% of an average household’s disposable income will be spent paying back debts.
While certainly not a favorable image, as bleak as that sounds running won’t change it but knowledge may and so, let’s take a fast snapshot in some of the current credit card debt statistics confronting so many Americans now.
American consumers spend over 1 trillion dollars per year on credit card purchases. The problem is not how much people spend using their credit cards however the fact that almost 57 percent of Americans don’t pay their balance off monthly.
This translates into an average credit card balance of $4,000 to $6,000 per family, who pay about $1,000 per year in interest. In fact, many people owe considerably more.
On average many Americans receive at least one new credit card offer in the mail every week 신용카드 현금화 80
. The amount of money being spent by the banks and credit card companies to register new cardholders is immense Card issuers spend billions of dollars administering, and advertising the various facets of the credit card market.
There are very few individuals or businesses who will escape the effects of large amounts of debt. The burden placed on the court system by record bankruptcy filings and the cost to government of providing subsidized credit counselling is merely two illustrations of how unsecured credit card debt affects the country and market.
Debt is growing more and more common; consumers who have excessive debt loads have less disposable income. The more money that’s used to pay off outstanding debts means money has been spent that causes the market to slow or stall.
It wasn’t long ago that carrying any type of debt has been considered unacceptable. In the event that you had bad credit it had been nearly impossible to get a credit card and your only option was to save up to create your purchase.
In fact, many people get over their heads in debt on account of the loss of a project or with their credit cards to cover the medical expenses as a result of an illness. Because of this, many people wind up trapped in a downward spiral of making payments on huge credit card debt levels.
Most people know what they can afford and how important it’s not to use credit cards to purchase everything. High credit card debt is usually a blend of many things but the biggest issues result from leaving balances on their credit cards and not realizing how fast compounding interest and other support fees actually affects their fiscal well-being.