Credit Persuasive

Did you know that the average credit-card holder in this country has ten cards, and the average family owes over $7,500?

That's a record. And did you know that one dollar of every three in consumer debt is in credit cards? The fact is, credit card debt is rising faster than Americans' income, and more folks are falling behind in their payments. So today I'm going to look at: why credit cards are a problem, and what you can do to make sure it's not a problem for you.

The plain fact is that a lot of people are in trouble. And to get out of financial trouble, they're using credit cards to get over the hump.

Credit cards are common among university students in the United States. A study by professors at Iowa State University found that 76 percent of students hold three or more credit cards while 40 percent had six or more. And even though rates start from 5%, the typical credit cardholder pays 17.66%. Many of us