Credit Card Debt Statistics
Statistic Verification
Source: Federal Reserve, Join Economic Committee, Sallie Mae, TransUnion
Research Date: July 12th, 2014
Credit card debt is unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
Credit Card Debt Statistics Data
Total U.S. credit card debt $793.1 Billion
Average credit card debt per household $15,799
Average household debt $54,000
Percent of consumers that carried an unpaid balance in the past 12 months 56%
Percent who said their debt had gotten "higher" in the past 12 months 26%
The average balance per open credit card $1,157
Percent of disposable income that went to service credit card debt 13.9%
Percent of families whose debt exceeds 40% of their income 14.7%
Average credit card debt carried by undergraduate college students $3,173
Alaska has the highest average cardholder debt of $7,827
Percent of cardholders whose balance is less than $1,000 40%
Percent of cardholders whose balance is above $10,000 15%
Average combined credit card limit per consumer $19,000
Average debt of a college graduate $20,000
Percent of 18 to 24 year-olds who have "debt hardships" 20%
Percent of survey who believe they had the same or less debt than the average 90%
Miami has the highest percent of yearly income owed to credit debt 22.61%
Percent of college students who have credit cards 76%
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