average cost of borrowing £3200 on a credit card
If you carry an average daily balance of $3,000 in credit card debt, your minimum payment will be around $60 a month (assuming a 2% minimum payment requirement â but some cards may have a different minimum percentage).
Consumer credit card debt is rising again. The average indebted household now carries a revolving balance of $15,355, according to a new study by NerdWallet. With credit cards carrying an average interest rate of 18%, that balance costs the average household $6,658 -- 9% of income -- in interest per year.