2006-12-11 02:21:54 · 5 answers · asked by Laura A 1 in Business & Finance ➔ Credit
in the US I think it is something like $10-15,000
2006-12-11 02:23:38 · answer #1 · answered by blackbeltbabe88 2 · 0⤊ 0⤋
Over the past few years, low minimum payback rates of between 2 and 2.5% have encouraged Americans to spend, spend, spend -- and to rack up an average credit card debt of close to $10,000 per household. For the estimated 40% of cardholders who carry a balance from month to month, the low minimums free up cash. But paying off a big charge little by ever-so-little also means that a $1,000 debt can turn into a 22-year commitment -- and that you'll accumulate thousands more in interest in the meantime.
"People are now in a revolving debt cycle that they'll never escape," says Adam Brauer, a debtor advocate and in-house counsel for Debt Settlement USA in Scottsdale, Ariz. "So the government nudged credit card companies into saying, 'This isn't working.'"
2006-12-11 10:31:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I have about $3,500, unfortunately. However, at my peak it was $12,000. Not so great! I charged almost everything in college because I didn't have a lot of income coming in.
2006-12-11 10:23:54 · answer #3 · answered by duritzgirl4 5 · 0⤊ 0⤋
around 20,000. My cousin has that amount.
2006-12-11 10:24:43 · answer #4 · answered by brownsugar 4 · 0⤊ 0⤋
the commercial says about 2,500, i have none
2006-12-11 10:30:21 · answer #5 · answered by Jen 4 · 0⤊ 0⤋