Credit Card Debt
A no-hassle guide to understanding and elimating your debt.
Here are the top credit card debt stories that are making headlines today…
If consumer spending stays on its current course, credit card debt is expected to reach a record $1 trillion. This means households may have unsustainable debt levels and trouble making ends meet.
Data shows that nearly half of retail credit cards have an APR of 25 percent or higher. And they’re limiting rewards, making store credit cards less beneficial.
Officially the United States comes in third for reported credit card fraud cases. Roughly one out of every three fraud cases originates here. And reported cases have risen 7% in the past year alone.
For more information visit the Credit Card Debt section of CosolidatedCredit.org
Top Credit Card Debt Statistics
the average total credit card balance for American households
the average credit card interest rate today
the total interest credit card charges you can expect to pay in a year
What you need to know about your debt
Eliminate debt effectively
If you’re working to eliminate high interest rate credit card debt, we can help you identify the right solution for your financial needs so you can avoid the guesswork and stop the sleepless nights.
- Debt Help Guide
- Reduce Debt within Your Budget
- 5 Options for Debt Relief
- Debt Relief Do’s and Don’ts
- 3 Reasons Why You Can’t Eliminate Your Debt
- Where to Go for Debt Advice
- Debt Repayment Calculator
Do you need help?
Most people prefer to solve debt problems on their own, but at a certain point you may require help to get out of debt. If you’re not sure if you’ve crossed that line yet, these resources can help.
Credit card consolidation
Credit consolidation is the process of combining multiple credit card debts into a single payment. The goal is to lower the interest rate applied to your debt so it’s easier to repay.
- A Guide to Credit Card Consolidation
- 5 Reasons Credit Consolidation Can Fail
- How to Use a Credit Card Debt Consolidation Loan
- Using a Balance Transfer for Credit Consolidation
Understand your cards
Often credit card debt problems stem from a lack of understanding about how your credit cards work. Don’t let debt become a problem just because you failed to read the fine print!
- Credit Cards 101: The Basics
- Credit Cards 201: Use Credit Strategically
- APR: The Silent Killer on Credit Card Debt
- Decoding Your Credit Card Statement
- The Secrets of Secured Credit Cards
- The Right time to Give a Teen Credit
Credit cards vs. other debts
Learn how credit card debt fits in with other consumer debts. The more you understand your debt, the better you can prioritize repayment and make effective plans for debt elimination.