Americans have more credit card debt than ever. Figure out how much you owe and how long it will take to pay back.

New bipartisan legislation has been introduced to immediately enforce an interest rate cap of 10 percent on credit cards.

Borrowers should recognize these early warning signs to address credit card debt before it becomes unmanageable.

Americans defaulted on $59 billion in credit card debt and took on an additional $74 billion in credit card debt.

At the moment, U.S. credit card debt jumped by $45 billion in the fourth quarter to $1.21 trillion, according to the Federal Reserve, as reported by Forbes.com. While the central bank did not provide a breakdown,

Credit card interest rates average more than 20 percent these days, which means carrying a balance can quickly snowball into paying a lot in interest charges. If you’re carrying debt, there are options to help you minimize the interest you’re paying,