Chances are, you carry credit card debt. If not you, then surely someone you know does. And it’s no surprise those credit card balances are costing you. A recent article by CNN Money outlines exactly how much credit card debt costs Americans.
“Credit card debt continues to be one of the costliest kinds of debt for us. Households pay an average of $904 a year in interest alone, assuming an average annual percentage rate of 14.87%.
. . .
And the price is bound to go up. If the Federal Reserve makes its anticipated rate increase, that average cost of credit will go up to $919 a year.”
The article expands on how the credit card debt can affect your life, and what you can do about it.
Visit the CNN Money site here to read the full article.
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