The next big financial issue for America is credit card debt.Coming on top of the subprime mortgage mess, credit card defaults will be the next blow to both consumers and our financial institutions. Americans now have nearly $1 trillion outstanding on credit cards. That's the amount "riding" as balances carried forward every month, on which interest is charged. Nearly half of those accounts are paying only the minimum monthly payment. The average interest rate on standard cards is currently around 13% or 14%, and you can find card rates at BankingMyWay. But the more debt you have, the greater the likelihood that your interest rates is 20% or more. At those rates, if you're only making minimum monthly payments, you're getting deeper into debt -- not paying it down! If you or someone you love is caught in this credit card trap, the first step is to face up to the facts. Sit down and make a list of the cards and the balances you owe. For each card, list the interest rate and the minimum monthly payment. In the past, cardholders turned to home-equity loans to pay down credit card debt -- an alternative that is no longer readily available amidst the mortgage mess and credit squeeze. So here are some other approaches to dealing with that debt.