There are over 1.2 billion credit cards in use in the United States. At least 37 percent of all personal spending is paid for by using credit and debit cards. The average US consumer, not including mortgage debt, is about $14,500 in the hole. A typical Credit Card purchase will end up costing you 112% more than if cash were used. About 40% of all American Families spend more than they make each year. About 60% of active credit card accounts are not paid off monthly. The typical American Family spends about $1,560 annually in credit card interest. The average credit card rates are currently 14.37 % and has been increasing since the beginning of 2006 when it was 12.82%. About 70% of all gas purchases are done by shell credit card. A year ago, when gas prices averaged $1.87, banks involved in credit card processing made about $12.5 million a day on fees. Now, with prices averaging $2.75 nationally, the credit card companies are raking in $18.4 million a day. Albert Einstein was once asked what he felt was mankind’s greatest invention… His answer… “compound interest”…..