Credit Card Debt Statistics

Here’s some Credit Card Debt Statistics that you might find interesting, especially if you’re trying to get out of debt.
• Consumer debt (not including mortgages) reached $2.46 trillion in 2007.
• Revolving debt (credit card type) was $904 billion
• The average household has 5% of their total yearly income in consumer debt.
• The median credit card debt was $2200 – half of households with debt owe more, half less.
• One quarter of households have no credit cards and 30 percent pay off their cards in full each month.
• On average, an American consumer has 13 revolving debt cards including credit cards, gas cards, and store charge cards as well as student loans.
• People using 50 percent or more of their allowable credit have average credit scores of 645 compared to a national average of 674
More Credit Card Debt Statistics to brighten your day :)
• Less than half of consumers have ever been 30 days or more late on a debt payment.
• There has been a 23 percent increase since 2002 in the number of people who have credit cards with points or rewards attached to them.
• One in ten consumers have at least 10 credit cards in their wallet.
• Visa has 54% of the credit card market followed by Master Card at 29% and American Express at 13%. Discover Card has just 4% of the market share.
• Bank of America issues more credit cards than any other bank. JPMorgan Chase is second followed by Citigroup.
• The average interest rate on a credit card is 13.4 percent.
And, that’s your Credit Card Debt Statistics for today.