(Continued from the main Awareness & Recovery page)

• The average balance on a credit card is $8,000 
• The average interest rate is 18.9% 
• Late fees now average $29.00 
• The average household had 10 credit cards 
• If your credit card balance is (the average) $8,000, and you make the minimum monthly payment at 18% (the average) interest, it will take you 25 years, 7 months to pay the debt off. You will pay $15,432 in interest charges, bringing your total paid to $23,432! 
• Americans paid out approximately $65 billion in interest last year alone 
• Credit card companies solicit the average American 7 times a year through the mail. 
• The typical "minimum monthly payment" is 90% interest and 10% principal