Federal Reserve data released April 7 shows that U.S. consumers owe
$1.0004 trillion on credit cards, up 6.2 percent from a year ago and 0.3
percent from January, according to Dow Jones newswires.
The credit card debt level is at its highest since January 2009, according to the data.
The New York Post
reports that U.S. consumers who do not pay off their credit card bill
each month carry an average monthly balance of about $9,600.
Furthermore, credit card borrowers are now paying $1,254 a year in interest on average.
That is $69 more a year in interest than last year, when a credit
card holder making minimum payments forked over $1,185 in annual
interest, according to Ben Woolsey of .