Posted by bobnone | Posted in Credit Card | Posted on 22-03-2010
Student Credit Card Debt Statistics ~~Financial Matters of Life ~~
Some statistics on credit card debt will help you put your own situation in the context of what is happening to a greater America.
By example, did you know that not including mortgages, consumer debt reached 2.46 trillion U.S. dollars in 2007? That includes $ 904,000,000,000 in the rotary (type credit card) debt.
The cause of the median of debit cards was $ 2200. That means half of households with balances had more or less in half. However, the debt of an average family consumption reached 5% of their total annual income!
But not everyone is drowning in debt. Twenty-five percent of households have credit cards and another thirty percent pay your revolving debt in full each month.
But the average consumer American has 13 credit cards including revolving debt, gas, store manager, and student loans.
A statistic that does not surprise you is that people who use 50 percent or more of the allowable credit with lower credit ratings than non – 645 versus 674 in general.
Something that can surprising is that less than half of consumers have ever been more than 30 days late on a payment of debt.
And, people have become debt smarter about it. In the past five years, the number of people receiving points or rewards for using your credit card has increased 23 percent.
However, one in ten consumers have 10 or more cards in their wallets.
Labels are higher credit card:
"Visa (54%)
MasterCard (29%)
"American Express (13%)
"Discover (4%)
Of all the banks, Bank of America issues of most credit cards. Next is followed by JPMorgan Chase Citigroup. The average interest rate on a credit card is 13.4 percent.
And, that is your credit card debt statistics for today.
Stacy Fox is an author with an interest in financial and business issues. More information about credit and debt can be found on her Business & Credit Blog
CSULB Economic Stabilization Act Panel Discussion
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