Learn About Credit Card Debt Facts

Why debtload grows until it overwhelms you.



Consider the concept of having credit cards but without the high debt load they frequently bring. According to NellieMae (a wholly owned subsidary of SallieMae), the U. S. Consumer median credit card balance was $3,068 in the year 2000.

Assuming an annual interest rate of 9%, and paying the minimum monthly payment on $3,000 of credit card debt, it could take you approximately 50 years, and result in interest payments equaling $1,500. You would be paying 50% more than if you had paid cash!

Now it's time to pull out your statement and see the facts on how much you really have in credit card debt. If this frightens you, it is all the more reason to know how much, and what to do about it.

If you have a hard time making the minimum payments, you need to take action before your credit file is trashed, and you have creditors calling daily.
Credit Card Debt Facts: Approximately 20% of all credit card holders had credit card debt in the $6,000 to $15,000 range, and 6% had credit card debt that exceeded $15,000.
We recommend debt consolidation through a reputable Credit Counseling Service to get your finances under control. They can help you with managing your money, as well as deal with your creditors for you.

CareOne Service Providers adhere to AICCCA standards and offer online account management. Take the initiative, and make the initial contact with CareOne Service Providers for online debt management and credit counseling services.

home loans




Return to the top of Credit Card Debt Facts

Read more Debt Relief Tips & Articles




Getting The Answers You Need

Need help to get your expenses under control fast? Check this out.

Be sure and check out the various debt solution reviews, tips, and articles provided on DebtSteps.com:

Find Your Solution offers a comprehensive list of reviews to get out of debt once and for all. Get answers on bankruptcy, consumer credit counseling, debt settlement, money management, budgeting, loans and mortgages.

Debt Relief Tips & Articles to guide you on your way to financial freedom. Get the lowdown on dealing with debt collectors, handling money problems, understanding your credit, and more.




Debt Relief Tips

Denial is a very common subconscious reaction when we don't want to face the truth. Take our free Money Problem Quiz, it may really open your eyes!

Income Tax Filing Time, tips to help you prepare. Prepare yourself, and your paperwork as income tax filing time is here. Learn where and how to file to save money, even filing online for free!.

Dealing With Financial Stress & Family Concerns? What exactly are you telling your kids? Nothing? Think again ... find out how you can learn to cope with financial stress.

Free budgeting tip on what to do in a money emergency. Get fast cash when you need it, here's how!

Reducing debt, how to avoid the pitfalls of creeping debt.

Credit card debt facts and why debt is overwhelming you.

Stop credit card debt with free debt management tips.

Avoiding the pitfalls of loans between friends and family ... what you need to do; what you need to know ...

Using Credit Cards vs. credit card debt ... what's the difference? Article presented by guest author on understanding the difference between using credit cards, and having credit card debt.

9 Steps to Cut Credit Card Debt ... quick tips for financial control.

Credit card debt help ... If you don't pay attention, you can run up a staggering amount of credit card debt very quickly.

Tips For Living On A Budget. Feature articles by guest author on 11 amazing money saving tips. Part 1, Part 2, Part 3, Part 4.

Personal Finance Budget Software is Money Magic is an article written by a guest author which offers insight into using budget software for money management.

Is Debt Reduction Really Getting Ahead? Reducing debt, you can live below your means but ...

Tips on how to really save for something you want, or need. Be sure and check out the tips offered for sure success with Saving Money Tips.

Find low cost and free debt consolidation that will work for you. You can save thousands of dollars and years off paying your creditors.

Consider your options for getting out of debt.

What Is Debt Free? Debt free is a much misunderstood concept for money management and debt relief. Learn what it really is, and if it's right for you.

How To Make Debt Free Living Work For You Make debt free living work for you, no matter what lifestyle you live, or income you receive.

Living Debt Free Learn how living debt free means debt relief and no financial stress!

Do you really need curb appeal to sell your home?
When selling your home, curb appeal can heavily influence buyers. How do you get curb appeal?

Selling Your Home ... Design it to Sell!
What can you do to design your home to sell? Check out these tips before putting your home up for sale.

Property disclosures when selling your home.
Property disclosures. The facts you need to know!

Selling your home yourself, do you really want to be an FSBO?
Does being a For Sale By Owner seller mean more profits?

The Basics of Selling a Home
Before listing your house, there are important steps to take in order to protect your interests and get the most return.

For sale by owner - Tips to sell your home. FSBO.
Tips for a Smooth Sale when selling your own home. Before planting a “For Sale by Owner” (FSBO) sign in your front yard, there are some key items you should know.

Selling your home to help get out of debt. Tips and strategies to get the most money and most benefit!



Credit card debt facts and why debt is overwhelming you.