Did You Know Facts About High-Interest Credit Card Debt

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1.) Interest Rates Can Compound Fast - Did you know a 20% APR means your debt can grow by nearly $200 in interest per year for every $1,000 you owe if only minimum payments are made?​

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2.) Minimum Payments Mostly Cover Interest - Did you know that if you only make the minimum payment, roughly 70-80% of that payment can go toward interest rather than reducing your balance?

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3.) High Utilization Hurts Credit Scores - Did you know that carrying a balance over 30% of your credit limit can significantly lower your credit score - even if you pay on time every month?

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4.) Interest Costs Often Exceed Purchases - Did you know that on a $5,000 balance with a 20% interest rate, paying only the minimum could take over 20 years to pay off and cost more than $7,000 in interest?

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5.) High Debt Increases Stress & Costs - Did you know high interest debt isn't just financially draining, it can also increase stress and even affect your health and work productivity?

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6.) Ignoring Debt Makes It Worse - Did you know that unpaid high-interest grows so quickly that ignoring it can result in paying more than double, sometimes even triple what you originally owed?

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7.) Your Credit Card Debt Is Negotiable - Did you know you can negotiate your debt down to lower payment plans to get out of debt in a more efficient and more affordable timeframe, possibly saving you tens of thousands on lingering interest?

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8.) Trillion Dollar Mark - As a country, we have no surpassed over a trillion dollars in credit card debt. Credit card debt continues to grow at an alarming rate within the US.

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9.) Rising Interest Rates - In 2010, interest rates were around 12-13%. By 2018, the rates were around 14-15%. In 2025, the average interest rate on a credit card is 22-23%. Interest rates continue to rise, which means it costs you more overall and keeps you in debt for a much longer period of time.

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10.) Cost Of Living Increase - With the cost of living continue to climb, more and more people have to rely on credit cards to cover basic expenses. As credit card debt grows, it makes everyday living harder and harder for people dealing with debt.