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Credit Card IQ

Fact 1: In 2004 in the United States, the average credit debt per household is $9312 (was $4301 in 1994).

Fact 2: 53% of adults carry three or more credit cards, 3% have more than eleven cards, and 7% have no credit cards.

Fact 3: Each month, the average payment is 18% of the card debt amount.

Fact 4: Among college students, the average credit card debt is $2400, with 14 % of them having a debt greater than $5000.

Rather than pose a question for your students (which would be easy given the above rich data), I suggest that they take one (or all) of these on-line credit card quizzes. They can be revealing and informative:

I hope your students do better on these quizzes than I did!

Source: CardWeb.com