Consumers have racked up more than $2.2 trillion in purchases and cash advances on major credit cards in just the last year. And it has become a habit for them to spend more than they have. The overall credit card debt grew by 315 percent from 1989 to 2006, according to public policy research firm Demos.

To compound the problem, fewer people are paying their credit cards bills on time. The percentage of people delinquent on their credit cards is the highest it has been in three years, according to CardTrack.com.

Do you have any credit card bills and do you pay them on time?

Labels: Credit Cards, Debt