How Much Credit Card Debt Have US Consumers Raked Up?

June 21st, 2007 | by HelpingU |

The Motley Fool’s Credit Center shows some mind-blowing statistics on the current credit card debt situation in the United States:

  • Total consumer credit: $1.7 trillion.
  • Credit card debt carried by the average American: $8,562.
  • Total finance charges Americans paid in 2001: $50 billion.
  • Percent of U.S. households deemed credit worthy by the lending industry: 78%.
  • Number of credit card holders who declared bankruptcy last year: 1.3 million.

Liz Pulliam Weston tells a different story regarding this data in her article for MSN Money The Truth About Credit Card Debt. She states the statistics of the average American carrying more than $8,000 in credit card debt is inflated by individuals and businesses who are carrying much larger balances while the average family carries under $2000 in credit card debt or is relatively debt free.



  1. One Response to “How Much Credit Card Debt Have US Consumers Raked Up?”

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