The average credit card debt in 2009 per household. (Source: MSN Money)  This is up from $3000 in 1990. At an 18% interest rate, and making the minimum payment allowed each month, it will take a person more than 25 years to repay this debt and will cost $24,000 in interest, if there are no new purchases.

$3,262

The average amount of credit card debt carried over by a public university student a graduation.  The cost of funding $3262 in credit card debt is alarming if the student only paid the minimum every month and didn't incur any new debt.   It would take would take over 16 years at 18% interest, and another approximate $3000 in interest to pay off that debt  Source:www.nellemae.com  2008.  The average amount of students loans incurred is now more than $20,000.

The number of credit card offers that some students will receive per week upon entering college.   The more credit cards you have, the worse your credit rating will be because of the risk of having too much credit available, which in turn increases the likelihood that you will default on payments.  Banks usually aren'tstupid.

The average interest rate charged by credit card companies.  What is even scarier, most credit card companies reserve the right to change your interest rate whenever they want.  If you rate changes and you don't like it, all you can do is pay off the card balance and stop using the card. 

Percent of all high school students who have a major credit card.

The most recent Federal Reserve study shows that 43% of American families spend more money than they earn.  On average, each American spends $1.22 for each dollar they earn!  Is it any wonder why we are currently in a financial crisis.  

Number of consecutive years that more people have declared bankruptcy annually than graduated from college!

60