Facts about credit card debt in America

Debt problems have become more similar like a baseball game in America. An average US citizen is keeping 5- 15 credit cards in their wallet and they are using these cards to make the smallest purchases. The society in US is changed from cash – savings society to a credit – debt society within a span of few years. Take a look at the following facts.

According to the Federal Reserve Board, the American households are reaching to a $2 trillion mark in debts. This is just excluding the mortgage debt.