10 interesting facts about Credit Cards

1. The typical American Family spends about $1,560 annually in credit card interest.
2. There are over 1.2 billion credit cards in use in the United States.
3. 41 percent of college students have a credit card.
4. At least 37 percent of all personal spending is paid for by using credit and debit cards.
5. Credit cards become popularly successful in the 1920s.
6. A typical Credit Card purchase will end up costing you 112% more than if cash were used.
7. Visa was originally called BankAmericard, a card offered by Bank of America in 1958 in California.
8. About 60% of active credit card accounts are not paid off monthly.
9. The average credit card interest rate is currently 14.37 % and has been increasing since the beginning of 2006 when it was 12.82%.
10. Eighty percent of American households have at least one credit card.