Have a Low Credit Score? Here's How Much Extra It Could Cost You
It's pretty safe to say that America runs on credit. According to the Federal Reserve, the aggregate amount of credit card debt recently surpassed $1 trillion, joining the ranks of auto loans and student loan debt as topping the $1 trillion mark.
Furthermore, roughly seven in 10 Americans had at least one credit card as of 2015, with the average card-carrying American toting around 3.7 credit cards, according to CreditCards.com. And it's not just a single generation that's flocked to credit cards. Two out of every three young millennials (ages 18 to 24) carries a credit card, while roughly three out of four folks in Generation X and the baby boomer generation have a card.
Image source: Getty Images.
Source: Fool.com
