The first payment-based debt for the average American gets incurred while still in high school.

Interest rates on department store cards can be as staggering as 33%.

Target is in the top 10 issuers of credit cards.

Over 173 Million Americans own at least one credit card.

The average rate for standard bank credit cards is around 19%

Only 2% of undergrads have no credit history

The average undergrad has $3,200 in credit card debt.

84% of college students have credit cards.

Med School graduates leave school with an average of $113K in debt.

Doctoral students amass another $29,000

On average, master’s degree students take on an additional $17,000 in student loans.

Half of all college graduates 4 or more credit cards

The average graduate student has $8,600 owing on his/her credit cards.

¾ of American households have multiple credit cards.

The average student amasses over $20,000 in student debt toward his/her first degree.

The average auto loan is $30,738, a 40% rise in the last 10 years.

Most auto loans are over 6 years in length.

This is double the loan term of a typical auto loan 25 years ago.

The average auto loan interest rate varies between 7% and 9%.

The average home mortgage costs around $240,000.

After 30 years of making payments, a homeowner with a $240,000 mortgage loan will have paid over $580,000 on his/her house.

Two-thirds of all American households own 2 or more automobiles.

Most Americans use loans to finance every vehicle they drive.

By age 60, the average American has 5 or more credit cards.

The average household in America with credit card debt is $10,637.

The median credit limit on family credit cards in America is $18,000.

Refinancing a mortgage is often an attempt to consolidate overwhelming debt from a variety of sources.

On average, about half of refinances result in a higher overall loan amount.

The average American has a total of 13 credit obligations right now.

Over a lifetime, the average American will pay over 600,000 in interest.