Unsavory Facts About Credit Cards
 

Did you know….? These statistics about credit cards and credit card debt may come as a real eye-opener.

• Over 70% of all divorces are attributed to financial difficulties.

• 75% of all Americans are a mere three paychecks away from bankruptcy.

• On average, you will spend 132% more on a purchase made with a credit card than if you used cash.

• 71% of all credit card accounts have only the minimum monthly payment being made, on average.
 

• The typical minimum monthly payment on a credit card is distributed 90% to interest, and only 10% to a principle payment on the card’s debt. ■