As of January 2015, Americans are $882.9 billion in the hole, a 3.3% increase from the previous year.
Yet people are more reluctant to talk about credit card debt than ever, preferring normally taboo topics like politics, salary, love, and religion over credit card debt, according to a poll by CreditCard.com. The average credit card holder has 3.5 credit cards, those little pieces of plastic that have wracked the average credit card debt per household up to $15,799. (This number does not consider households that do not use credit cards. In other words, having credit cards has given the average American household the opportunity to have almost $16K in debt!) Who would want to ruin a good dinner party by talking about that?
Continue reading The Truth about Credit Card Debt in the United States