Payment Showdown – Race to a Zero Balance

June 25, 2014 | By

Americans currently owe $854.2 billion in credit card debt and there are more than 600 million credit cards currently in use in America. The average American household carries about $7,000 in credit card debt. When consumers find themselves buried in debt, high interest rates and fees can make it difficult to pay off their balances.

The Payment Showdown – Race to a Zero Balance infographic by CompareCards.com has a game-show theme, providing examples of “contestants” racing to reach a zero balance first. It also highlights the typical interest rate to be expected by major issuers and examples of how consumers can save almost $400 each month to put towards their debt.

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Payment Showdown - Race to a Zero Balance

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Filed in: Finance & Money Infographics | Tags: ,

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Co-founder and Vice President of SearchRank, responsible for many of the day to day operations of the company. She is also founder of The Arizona Builders' Zone, a construction / home improvement portal. Follow +Irma Wallace on Google + as well as Twitter.

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