Next big crisis will be credit card debt

With the mortgage crisis still with us, the next big mess is coming. It is the other shoe dropping -- the credit card mess -- and it will be a big shoe.

American credit card debt is $850 billion, twice as much as the debt of the world's 54 poorest counties. The average household carries $9,659 of credit card debt.

Those who pay off their bill every month are known as "deadbeats," as they pay no interest, which is about 14 percent APR.

Last year, credit card companies mailed out 8 billion card offers and the average card holder has seven credit cards. Americans charged $51 billion of fast food.

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