I completely agree with Kevin Zanes on this point: credit cards are not suitable for the average American.
Is the average American ready for credit cards? Based on debt, income, and sky-high interest rates, Kevin Zanes makes a strong case: most aren’t. This note breaks down the brutal math behind credit card traps and offers smarter strategies. Learn when to play—and when to sit out.
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There, I said it.
Not because credit cards are bad – but because the average person is set up to lose with them.
Let’s look at the math:
💳 Average credit card debt: $6,500
📈 Average total debt: $105,000 (up 13% this year)
📊 Average income: $40,000
🔢 Average number of credit cards: 4
👨👩👧 Average age: 38
Now pair that with this brutal reality:
📉 Credit card interest rates sit between 20%-30% – even for people with good credit.
And if your score is shaky? It can go way higher.
So here’s the picture:
🔹 You’re earning $40K…
🔹 Paying 25% interest on $6,500…
🔹 While juggling 4 cards…
🔹 With over $100K in total debt…
That’s not a financial strategy. That’s a trap.
Credit cards can be amazing tools – for travel rewards, building credit, and maximizing purchases. But only if you treat them like a surgical instrument, not a vending machine.
Otherwise? It’s financial quicksand wrapped in shiny plastic.
Here’s my rule before recommending anyone jump into the points game:
✅ You pay your balance in full every month
✅ You understand interest, utilization, and your credit behavior
✅ You’re not chasing points while carrying debt – it’s like running a race with an anchor tied to your leg
Because no 5x bonus is worth 29.99% APR.
The system isn’t broken. It’s built this way.
Let’s teach people how to play smarter – or when to sit this game out.
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💳 The average American is drowning—not in water, but in debt. With four credit cards, 25% interest, and a $40K income, this isn’t just bad math—it’s financial self-sabotage. Kevin Zanes sounds the alarm, and we break down why credit cards aren’t just risky—they’re rigged. Don’t play the game until you learn the rules.
Kaba, Advocate.
#creditcardtrap #debtcrisis #кредитнаяловушка
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Men Were Warned: Schopenhauer’s Truths Ignored!
#Creditcarddebt #Financialliteracy #кредитныекарты
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