Your credit report will have your information listed in the following way:

1) Identifying information about you – name, social security number, previous addresses
2) Trade lines – mortgages, credit cards, car payments
3) Credit inquiries
4) Court information (bankruptcy, foreclosure, judgments) and collections accounts
5) Closed accounts, paid accounts and negative accounts

According to a December 2016 report by creditcards.com, retail credit cards (store credit cards) have higher interest rates and skimpier sign-up offers. The average APR on store credit cards has risen to 23.84 percent. Half of store credit cards have an APR of over 25 percent. But regular credit cards have an average APR of 15.18 percent. Why do store credit cards have such a high interest rate? Two of the reasons are: lower credit limits and high-risk applicants.

The average credit card debt in the US for 2016 was $5,700. The average credit card debt in Indiana for 2016 was $5,288. 38.1% of all households carry some sort of credit card debt. Households with the lowest net worth (zero or negative) hold an average of $10,308 in credit card debt. Average credit card debt rose in the last decade from $5,048 to $7,697. This means the average American today holds 52% more debt today than they did a decade ago.