The next big financial issue for America is credit card debt. Coming on top of the sub-prime mortgage mess, credit-card defaults will be the next blow to both consumers and our financial institutions.

Americans now have nearly $1 trillion outstanding on credit cards. That's the amount "riding" as balances carried forward every month, on which interest is charged. Nearly half of those accounts are paying only the minimum monthly payment.

The average interest rate on sta ...

( Back to Article )