Interesting Credit Card Debt Statistics
Published by admin on March 16, 2010
Interesting Credit Card Debt Statistics
In this article we are going to show you some interesting credit card debt facts and statistics. This way you can better understand what is going on with the credit card debt phenomenon.
Here are the statistics made by the Consumer Reports, showed in a recent survey:
- 1/3 of the Americans do not have a credit card right now
- 54% of the people that have a credit card are paying their balances in full every month for the money that they have used.
- 33% are carrying balances which are up to $10k, however the median balance is just $2.2K
- 13% are carrying balances over $10k and the average balance is $17,366.
- 21% of the people that have at least a credit card said that they were treated unfair by the credit card company.
And here we are going to present some other interesting facts related to credit card debt:
- The Americans have right now (September 2009) $917 billion outstanding debt revolving from credit lines and out of that sum $69 billion is past due, which brings in some high profits to the credit card companies.
- In September 2008 the credit card debt has hit its peak of $975 billion dollars and ever since that moment the total amount of credit card debt has started to decrease since the trend was to pay off all the expensive debt.
And here are some final credit card debt statistics that you might find interesting:
Highest state average credit card debt:
- Alaska at $7,665
- Tennessee at $7,054
- Nevada at $6,517.
Lowest state average credit card debt:
- Iowa at $4,247
- North Dakota at $4,417
- South Dakota at $4,633
The steepest increases in average credit card debt over the previous quarter:
- District of Columbia +6.3%
- Tennessee +2.7%
- Alaska +2.5%
The largest drop in average credit card debt over the previous quarter:
- Hawaii -2.7%
- Utah -2.6%
- Nevada -2.4%
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