WOW! Some Surprising Statistics on Credit Card Debt!

by jcramer75 on February 8, 2013

 

iStock 000009653476 ExtraSmall 300x200 WOW! Some Surprising Statistics on Credit Card Debt!

How Many Do You Have in Your Wallet?

 

Credit Card Debt – Some Surprising Statistics:

In the past,  I have had some credit card debt myself, but never realized how high the average credit card debt is in the United States. As our country struggles with the national debt, it is a good idea for each of us to examine our own personal debt. Here are some general statistics I found on the Internet regarding credit card debt in the US. How does your debt compare to the national average of $15,799? Much lower, I hope.

Projected Credit Card debt outstanding in the United States at the end of 2012:

Visa – 359.0 Billion
MasterCard – 255.0 Billion
Discover – 54.0 Billion
American Express – 97.0 Billion
TOTAL – 765.0 Billion

(Source: http://www.census.gov/compendia/statab/2012/tables/12s1187.pdf )

The average credit card debt per household with card card debt: $15,799 – (Source: CreditCards.com)

5 steps to eliminate credit card debt:

Step 1. Stop adding to the problem.
Step 2. Set up a budget.
Step 3. Use cash rather than credit cards when
possible.
Step 4. Another thing to do to eliminate credit card
debt is to get a better rate on your existing credit card.
Step 5. Apply your newfound cash flow to retiring that
debt.

(source: http://www.creditcards.com/credit-card-news/5-steps-eliminate-credit-card-debt-1267.php )

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