If you're like most people you keep a few credit cards in your wallet. Two or three is typical, but many Americans have way more than that. (Read on to see just how many.) Most people rarely take the time to evaluate the credit cards they carry: are they working for you, tools that you use to lubricate your finances, or are they draining hundreds of dollars from your budget needlessly? Here are a few little-known facts that you may find interesting:

1) On average today's consumer has thirteen credit obligations on file with a credit bureau, nine of which are credit cards of some form or the other. (They could be gas cards, department store cards, Visa, etc.) Four of those thirteen obligations are likely to be installment loans.

2) Fourteen hears is the average age of the oldest credit card obligation that average consumer holds. That's an indication of how long the average consumer has been paying interest on that debt, and also shows that the average consumer is pretty good at maintaining and managing credit over a long period of time.

3) Credit card debt among young adults is $4,088. There was an increase in this amount of fifty-five percent from 1992 to 2001. Credit card debt among young Americans is growing, and a young adult with the average amount of credit card debt can now expect to pay 24% of their income to maintain payment on that debt.

4) Roughly seventy-five percent of US families polled in 2004 owned credit cards. Of that group 58% of them carried balances on those cards. The average American with a credit history on file has $16,635 in outstanding debt (excluding mortgages).

5) One in six families with credit cards pays only the minimum due every month. 28 percent of families surveyed indicate that their ability to pay off their credit card balance has become more difficult.

The sources of figures include Experion, The Federal Reserve Bulletin and US News and World Report. These are reputable sources an hence the figures merit attention. Taken together, they indicate that typical Americans are carrying a lot of debt! Chances are they're not optimizing that debt reduce the cost of borrowing. This can be a very simple thing to do in many cases, it can be done from the comfort of your home with a computer, and if your situation is reflected to any degree in the statistics above, it could save you hundreds or even thousands of dollars!

One of the easiest ways to optimize outstanding credit card debt is to use 0% Balance Transfer Credit Cards. By applying for a new credit card that offers 0% balance transfers you can take all of the outstanding credit card debt that you have and lump it into and interest-free loan - this is a great deal and can save you a ton of money over time! Let me give you an example: you stand to pay $14 per year for every $100 of outstanding debt on your credit card at an interest rate of 14% (and many credit cards charge much higher interest rates). If you have $1000 outstanding, that's $140. More? Well, you get the picture: bu moving that same debt into and 0% interest position you stand to save a lot of money.

It's easy to apply for a 0% balance transfer credit card - application can be completed on-line and the approval rate is high (applicants usually already have credit products and hence sufficient credit for approval). Get into the habit of shopping for 0% credit every 12 to 15 months so that you can roll any outstanding balance into an interest-free position. Given the current financial climate we all need to find ways to save the money that we earn. Zero percent balance transfer credit cards are a free and easy way to do just that.