Unformatted text preview: This was taking from 95 of the most popular cards in the country over consecutive weeks. These are two of the main reason Americans should not use credit cards because it causes debt. Most likely having a credit card will bring you to a point were debt comes along. America is 852.6 billion in revolving debt 98% of this is from what? You guessed it right credit cards. The average credit card debt per houshold with credit card debts is $16,007 which only includes homes with credit cards. Undergraduates have the record-high credit card balances in the country the average balance is $3,173 so being in school doesn’t help. In 2007 there were 73.0% of American families with credit cards and, only 60.3% had a balance at the time of the interview. Debt is one of the main reasons credit cards are bad for you sure you can avoid debt but, they have so many ways for you to run into it....
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This note was uploaded on 07/15/2011 for the course ECON 100 taught by Professor Michaels during the Spring '08 term at University of Phoenix.
- Spring '08