Credit Card Debt

A no-hassle guide to understanding and elimating your debt.


Here’s the top credit card debt stories making headlines today.

Credit card interest rates continue to climb, hitting a record at the end of January of 15.42 percent. Even low interest rate credit cards now carry an average APR of 12.22 percent. And bad credit cards have an average interest rate at almost 23 percent.

The United States led the world in identity theft data breaches in 2016 with almost 2,000 breaches in a single year. Over 68 percent of data breaches occur in the U.S. – that’s ten times the number that occur in Russia, who placed second.

Mobile payment platforms continue to gain ground over traditional payment methods. For instance, Apple Pay reports it had 50 percent more transactions in 2016 than 2015.

For more information, visit the Credit Card Debt section of ConsolidatedCredit.org.

Top Credit Card Debt Statistics

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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.

Credit card consolidation guide

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.

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Credit card consolidation

This 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.

Consolidate credit card debt

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!

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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.

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5 Reasons Credit Card Debt is Tough to Eliminate

  1. Since credit cards create revolving debt, it means that the more you charge, the more you owe. As your balances increase, so does the amount of money you need to pay the bill.
  2. Minimum payments are not designed to pay off debt efficiently. You can pay month after month and never seem to make a dent in your balances.
  3. High APR means roughly 2/3 or more of each minimum payment you make goes to paying off interest charges instead of the actual debt you owe.
  4. When you get a new credit card, it often has an introductory interest rate or may have 0% APR for a period of time. That’s good at first, but once the introductory period ends your rate and monthly payments can increase significantly.
  5. If you miss a payment and penalty APR is applied it can double the already high interest rate you’re paying. In this case, the minimum payment may not even cover accrued interest charges for the month.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

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With this amount of debt, you'd pay around $xx.xx on a DMP.

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