American people's credit card debt pressure is really significant. Data shows that the average American consumer carries a credit card debt of 6,500 to @E1@7,900 USD, with interest rates generally around 20%. In other words, if someone owes $7,000, they would pay about $117 in interest alone each month. What can this money be used for? If placed in a fixed deposit, the interest over a year would only be a few dozen dollars, yet credit cards require you to pay out every month. What's even more heartbreaking is that if interest rates drop by just one or two percentage points, the entire repayment pressure can be eased considerably.