Most American household are in debt. That is a fact. The average credit card debt has been reported by different sources for the previous years. There’s actually no accurate way of finding out the average credit card debt at any given point in time, but statistics will say that on the average, any American household owes somewhere between $7,000 to $10,000.
Here are several reported articles that mention the average credit card debt. The excerpts below were taken from random articles posted from around the web.
Nilson Report, April 2009
The average credit card debt per household — regardless of whether they have a credit card or not — was $8,329 at the end of 2008. (Source: Nilson Report, April 2009). The average outstanding credit card debt for households that have a credit card was $10,679 at the end of 2008. One year earlier, that average was $10,637. (Source: Nilson Report, April 2009)
While the median household income is a moderate $43,333–the national average is $50,233–average credit card debt in each home is $9,797.38. That means to pay off outstanding credit card bills, debtors would have to forgo 22.61% of their incomes.
Average Credit Card Debt $4,013 Per Adult, $7,861 Per Household
Using government debt data and census data, IndexCreditCards.com has determined that the average American adult is carrying $4,013 in revolving debt (mainly credit card debt) and the average American household is carrying $7,861 in such debt. This is a slight decrease in debt when compared to our estimates in April, when average adult debt was $4150 and average household debt was $7900.
Average credit card debt among all American households is $8,400.
Average card debt among people who have at least one card is $9,205 — triple what it was in 1990.
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The higher the grade level, the greater the card debt, according to Sallie Mae. In 2008, college seniors with at least one credit card graduated with an average of $4,138 in card debt, up 44% from 2004. By comparison, freshmen’s average credit card debt jumped 27% to $2,038.
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