24% Only Make Minimum Credit Card Payment

[jeffrey]

Almost one-forth (23.8%) of all credit card holders only make the minimum payment on their credit cards according to cardweb.com. With making only the minimum payment the equivalent of raising the price of the goods purchased by 20% or more, it is one of the signs that a person is in personal financial trouble.

On a brighter note, over thirty-eight percent (38.4%) of credit card holders pay off more than the required minimum payment each month and just under thirty-eight percent(37.8%) of credit card holders pay off their credit card bill in full each month. These statistics reflect the approximately 185 million bank credit cardholders in the USA today.