CREDIT CARDSAs a global commodity credit cards save us from carrying wads of cash, and can let us buy on credit - the downside of all that credit is becoming obvious in the current economic crisis

Which country is most dependent on credit cards?

In the US, there are five credit cards per person; in Brazil, there is one card for every 2.5 people; in Russia, there are 5.9 people per card; in China, 33 people per card; in India, 64.6 people per card, as of 2008.

And where is credit card debt per person the highest?

In the US, per capita credit card debt stands at $2,607 (€1,856). In comparison, that figure is $325 (€230) for Turkey, $167 (€119) for South Africa, $5 (€3.56) for China and just $0.70 (€0.50) for Japan.

How many consumers have grown so frustrated that they stop paying their bills?

About one in 10 credit card accounts in India have fallen so far behind that they are never expected to be paid - compared with about one in 25 in the US (as of 2007).

What is the average credit card debt in the US?

The average US household has credit card debt of $7,753 (€5,569) as of 2007 - up from $6,086 (€4,370) in 2002.

When was the credit card invented?

The first modern credit card - the Diners Club Card - was introduced back in 1950.

Just how lucrative are penalty fees for the industry?

In 2006, penalty fees cost US credit card customers $17.1 billion (€12.3 billion).

-theglobalist.com