[ChicagoConservative27]

Wow just wow

[EvilCapitalist]

My Credit Card debt: $0.00 I grew up despising debt, and I still do to this day.

[Libloather]

The average credit card interest rate is 20.42 percent, down from a record-high 20.79 percent set on Aug. 14, 2024.

https://www.bankrate.com/credit-cards/advice/current-interest-rates/

[Raycpa]

6k to 7k is about our average. We have on average 2 months of charges. We charge everything we can to get points that reduce our costs by at least 2%. We scheduled each card to be paid off monthly.

[Wuli]

The averages are not that far apart between the states.

[jdt1138]

That is $1,200 in interest per year paid on top of the ‘cut’ that the card issuer gets for every transaction or if you pay hundreds just to have the credit card.

[chajin]

I fit right in the FL stats, but I have a good excuse. A years ago I had the house ductwork replaced, and I signed a finance agreement thinking it was a loan like a car loan. It turned out to be a credit card application, and the loan was a credit card purchase at a special rate. So now I have a credit card balance which I’m paying off double time so I can go back to zero balancing my cards every month.

[Responsibility2nd]

Per AI

1. Per Household Debt: The national debt equates to $272,173 for every household in the U.S.
2. Debt-to-Income Ratio: If a median-income American family spent money like the U.S. government, it would have spent all of its earnings and then put over $28,000 on a credit card in 2023, while already being $573,000 in debt.
3. Debt vs. Consumer Debt: The national debt is 77% more than the combined consumer debt of every household in the U.S.
    

[Responsibility2nd]

I posted data in post 10 just to show how little the average family debt is in comparison to the US debt.

[Chode]

[Tolerance Sucks Rocks]

I just paid mine off, but at my income level, that won’t last long.

But $7,000 in debt average per household? I was recently in that situation once, and I swiftly paid that down from another source. Didn’t like the notion of being stuck with hundreds of dollars in interest.

[Jonty30]

I’m not as bad as they are. I have my credit card debt down to $3200CDN, which is probably around $2600 US.

I am not using the card until I get it down to $2800CDN.

[proxy_user]

It is very hard to get accurate figures, because these balances include those owed by people who pay in full every month. There is no way to know this in advance.

[fatboy]

At one time we had a lot of credit card debt. Finally the day came when we had enough. At that time our rates were between 12-14% but still quite high. It has been 5 years since getting out of debt, all of our debt is paid. It is amazing how much money we now have to save and invest. Life is good!

[PAR35]

I have a fairly high balance about 8 days before the due date for payment on the cashback card. Then I zero out the amount due, and start the cycle again. Other cards I use every couple of months for a meal or a small purchase to keep them active. So the day of the month determines how much of a balance I’m carrying.

[GOP Poet]

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