How to Take Control of Your Credit Cards

How to Take Control of Your Credit Cards: "I am all for taking credit where credit is due, but when it comes to credit cards, way too many of you are overdoing it. For Americans who don't pay their entire credit card bill each month, the average balance is close to $4,000. And when we zoom in on higher-income folks those with annual incomes between $75,000 and $100,000 the average balance clocks in at nearly $8,000. If you�re paying, say, 18 percent interest on an $8,000 balance, and you make only the 2 percent minimum payment due each month, you are going to end up paying more than $22,000 in interest over the course of the 54 years it will take to get the balance down to zero. "