The total U.S. revolving debt (98 percent of which is made up of credit card debt) is $852.6 billion.
In response, Quest for Credit, an animated short about the perils of credit card debt was released in May 2010 by Mint.com.
The video follows our hero as he finds himself in the land of the debtors thanks to his newly found power—a credit card. He then embarks on a quest to rid himself of debt, masters the principles of finance (budgeting, bills, etc) and is able to climb out of debt and into a home of his own.
Between Greece, the housing market and the recession –it’s about time for us all to go on a “Quest” of our own and dig ourselves, and our country, out of $852.6 billion dollars worth of debt.
Description: The importance of good credit in our society is unquestionable — as is the destructive power of its ugly cousin, bad credit. Yet, millions of consumers succumb to materialistic temptations or fall into the many traps laid forth by credit-card companies (ever tried making only the minimum payments on a large credit card balance?). And while wise credit management isn’t an easy skill to learn and maintain, battling your “bad credit demons” is even more difficult. To illustrate the importance of staying out of debt while building and maintaining a good credit history, we give you Mint.com’s short epic, The Quest for Credit. The presentation may be humorous, but don’t get us wrong: bad credit is no laughing matter. If you need help with battling your debt demons, check out the budgeting tools at http://www.mint.com.