From a survey by the Irish League of Credit Unions.

This is

1. A failure of the education system. The solution is to make Personal Financial Planning a core mandatory subject in schools right up to Leaving Cert.
2. A failure of the regulatory system. The solution is twofold. First, mandatory disclosure by card issuers of total interest charged on credit cards annually and summary details on who is paying those charges. Second, a close examination of how interest charges are communicated and an evaluation of the clarity or otherwise of monthly statements.