Average credit card debt

In case you were wondering about how you compare with everyone else in America, here are some financial statistics that you might find interesting.

These are provided from www.creditcards.com and can help you put your debt in perspective and stop being scared to face it. It can be a very empowering feeling when you finally turn that corner and start to eliminate your debt for good.

In May 2007, the average credit card annual percentage rate was 13.46%.
Visa is the credit card which is most widely used – accounting for 54% of the market share.
The typical American consumer has approximately $19,000 worth of credit on their credit cards (this is the sum of all of the available credit limits on their cards).
Eighty-eight percent of consumers either shred or throw away credit card offers that they receive in the mail.

How Much Debt Do You Have?

When figuring out how much debt you owe, consider money that you might owe to any of these places.

• Mortgage lender

• Auto loan

• Student loan

• Credit card balances

• Collection agency balances

• Personal installment loans

• Home improvement loans

• Payday loans

• IRS debt

• Lawyer fees

• Money you owe friends

• Any other money that you owe to someone or some place