On-line Purchases
Reservations
19%
7.9%
3.9%
Hidden Fees
Annual Membership
Fees $$$$
UGLY FACTS
Average credit card debt per household……)
$8,329 in 2008.
(Source: Nilson Report, April 2009)
American’s Credit Card
Debt in 2008…..
Are you sitting down?
$972.73 billion!!!
(Source: Nilson Report, April 2009)
In 2007 14.7 % of U.S. families had debt exceeding 40 percent of their income.“
(Source: U.S. Congress' Joint Economic Committee, "Vicious Cycle: How Unfair Credit Card Company Practices Are Squeezing Consumers and Undermining the RSecovery," May 2009)
College Grad Facts………….
The average college graduate has nearly $20,000 in debt
Card debt for 25-34 year olds…
Up 47% since 1989
And for 18-24 year olds?
Up 11%
Since 1989
Nearly one in five 18-to 24-year-olds is in
"debt hardship“
(Source: Demos.org, "The Economic State of Young America," May 2008)
Credit Card Tools
How do you stack up?
http://www.usnews.com/usnews/biztech/tools/modebtratio.htm
.
Click to find out
How long to
pay off my ca
rd?
Payment Calculators
http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx
Debt Reduction Planners
http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp
Do You Know….
The Cost of Credit?
The types of Credit Cards?
How to shop for a Credit Card?
How much debt can you handle?
How to reduce your credit card debt?
Your Credit Card Rights?
http://www.credit.org/media/docs/WU2009.pdf
http://www.ftc.gov/freereports
Government Help
http://www.mymoney.gov/
http://www.debtfirms.com/government-grants.html
Do you qualify for a Government Grant?
Public Help Agencies
https://www.familycredit.org/
http://www.credit.org/
THE END