We've become desensitized to the true value of large amounts of money. You might therefore be inclined to brush aside the fact that American consumers are projected to incur $43.5 billion in credit card debt during 2012 for the second consecutive year. That, however, would be a grave mistake.
The CARD Act was implemented on Feb. 22, 2010, and the two-year anniversary of this date marks a fair time to assess the Act's successes, failures and overall implications for consumers with credit cards.
In truth, paying off your credit card balances is simple; there's nothing complicated about it. But it's not easy, because it does require sacrifice and scraping together the cash that will get it done.