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Credit Card Debt In America

Credit Card Debt in America

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Title: Credit Card Debt in America

Essay Details:

Subject: Business

Author: Grace G

Date: July 25, 2010

Level: University

Grade: A

Length: 6 / 1576

Essay text:

The bar got lowered and lowered to where, eventually, an 18 year-old college student with almost no income and nothing to base a credit score on previously could obtain a credit card (much like myself). The national credit card debt for families residing in the United States alone is in the trillions (Maxed Out). The average American family has around $9,000 in debt, and pays around $1,3000 a year on interest payments (Maxed Out). Many people have the concern today that these interest rates and fees are skyrocketing; and many do not understand why. Most of these people have to try to avoid harassing collecting agents from different agencies, which takes an emotional and psychological toll on them...

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