Total U.S. credit card debt: $850 billion
That number is alarming. I can’t even begin to imagine how much that really is. Or maybe I can…
(Nearly a quarter of the earth’s population could have an iPad for that amount!)
A major influence on these dismal numbers is the amount of credit card offers received by mail. People may not be as likely to sign up nearly as often if they weren’t asked/encouraged/harassed to apply for a credit card regularly.
Starting in January 2014, I will document all physical credit card offers I receive by mail for a year. I’ll discuss what these offers mean, comb through the fine details, and ask some (hopefully) interesting questions about credit cards and our debt epidemic.