Credit Card Fast Facts
- 72% of people 18 or older in the U.S. (177 million people) have a credit card, with the average cardholder having 3.7 cards and an outstanding debt of $4,679.
- Paying just a little over the minimum payment each month could save you a bundle.
- Debit cards eclipse credit cards as the nation’s top non-cash way to pay. Learn about debit card dangers.
- Prepaid cards, though fairly new, are the nation’s fastest growing non-cash payment method. Get our prepaid card tips.
- Total credit card debt peaked at the end of 2008 at $989 billion. In 2003 it was $751 billion.
- Average interest rate paid was 13.44% in the first three months of 2011, compared to 14.38% for the same period in 2006 and 11.96% for the same period in 2003.
- The Credit CARD Act of 2009 has brought price clarity.