Credit Card Debt at 1 Trillion Dollars – Financeforhealth.com

In the United States of America, the most popular way to pay for things is with a credit card. The US economy has moved from a cash based system to a credit based system. As a result, the total debt in the United States because of credit cards has risen to nearly 1 Trillion Dollars. In 2015 by itself, the national credit card debt rose 71 billion dollars.   This makes the United States of American the leader in credit card debt, with more debt than the next 5 countries combined. The reason for this is that most people across the Asian continent do not pay by credit, and rather by cash. For example, in India, most people use cash for every purchase they make in their lives. In other countries, the economy is not safe enough for people to get loans and mortgages,
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