Here's a number that might make you angry—and it should.
If you're carrying a $10,000 credit card balance at the average 23% APR and only making minimum payments, you'll be in debt for over 22 years and pay more than $18,000 in interest alone. That's nearly double what you originally owed—handed straight to the credit card company.
You're Not Alone
Americans are carrying a record $1.233 trillion in credit card debt as of 2025, with the average household owing between $7,300 and $11,000. Nearly half of cardholders carry a balance month to month.
Here's the heartbreaker: 23% of people with credit card debt believe they'll never pay it off.
The Good News
You absolutely can get out of debt. It doesn't require winning the lottery or inheriting money from a long-lost relative. It requires a strategy—the right strategy for your situation, your psychology, and your goals.
What You'll Learn in This Course
In the lessons ahead, you'll discover:
- Five proven debt payoff strategies with real math behind each one
- How to match your strategy to your personality—because the best plan is the one you'll actually stick with
- The direct connection between debt and mortgage approval—and how lenders view your debt-to-income ratio
- Actionable steps you can take today to start your debt-free journey
The Minimum Payment Trap
Credit card companies design minimum payments to keep you in debt as long as possible. Here's why:
- Minimum payments are calculated to maximize interest — They're typically just 1-3% of your balance
- Most of your payment goes to interest, not principal — On a high-rate card, 80% or more might cover interest charges
- The longer you pay, the more they earn — That $10,000 debt becoming $28,000 over 22 years is by design
Your Debt-Free Future Starts Now
The credit card companies are betting you'll stay stuck in the minimum payment trap forever. Over the next several lessons, you'll learn exactly how to prove them wrong.
Key Takeaway
Twenty-two years from now, you could still be sending them checks—or you could be debt-free and building wealth. Let's make sure it's the latter.