The total debt of households in the US is 1.1 trillion dollars, with over 120 billion dollars of interest every month. The average household has over $6,000 in debt spread across 3 or more credit cards. Researchers also discovered that people were likely to spend significantly more on the same purchases when using a credit card than if they used debit. Even the more wealthy portion of the population accounted for ~20% of late fees due to simple absentmindedness and calculated manipulation.