That hardly seems fair, does it? People who can afford credit get free miles, refunds, etc., while people who can’t go wanting. This explores it more, the whole cash or credit thing.
And this breaks down the credit industry into crunchable numbers. A few:
Average number of credit cards per American consumer: 5.4
Average consumer’s oldest obligation: 14 years
Average credit card debt per household: $8,329
Average balance per open credit card: $1,157
Where do you fall in this bottomless pit? Having just sold a house, I’m a little more flush than usual, but I know at any moment I can make some stupid financial decisions and be back sucking (financial) canal water. I know me. I’ve seen me do it.