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 Credit Card Debt - Info on credit card debt, don't let your credit cards go out of control, credit card debt consolidation, debt relief, statistics on credit card debts and more.
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Check here some credit card debt statistics, statistics on credit cards among college students, credit card facts, average credit card debt statistics chart.
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Credit Card Debt Statistics
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Credit Card Debts
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According to a study released by Bankrate, Inc. in February 2008:
- 66% of Americans say debt is often the result of unfortunate circumstances beyond a person's control, while 60% say
it is usually the result of bad decisions.
- Americans have conflicting attitudes about debt. While 91% believe debt can be controlled by disciplined saving and
spending, 72% also believe that debt is a part of modern life and difficult to avoid.
- 64% of the people polled who carry debt admitted that debt is a cause of worry for them. In addition, the study
found that men worry less than women about the debt they carry.
In October 2007, credit card debt that was at least 30 days late totaled $17.6 billion, up 26% from October 2006. Some
credit card companies, including Advanta, GE Money Bank and HSBC, are reporting a 50% increase in accounts that are at
least 90 days late compared to the same time last year. 
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Credit Card Debt Statistics
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The most relevant links we could find, placed here free |
 Hoffman Brinker & Roberts
- A report from Mark Brinker about US, and UK credit card debt statistics, also college students debt statistics. www.hoffmanbrinker.com
Credit Cards
- Credit card industry facts and personal credit card debt statistics (2006-Today) , plus many other information about credit cards. www.creditcards.com
Card Web
- Information about credit cards, including credit card debt statistics. www.cardweb.com
Credit Infocenter
- Credit report repair, credit card debt consolidation, debt counselling, professional credit counselling and more information related with credit card debts and debt consolidation services. www.creditinfocenter.com
Money Zine
- Credit card debt statistics, college students debt statistics, federal reserve statistics and some other information regarding credit card debts. www.money-zine.com
MSN Money
- 'The truth about credit card debt' an article by Liz Pulliam Weston about credit card debts, including an average credit card debt statistics chart. moneycentral.msn.com
Credit Cards Facts:
- The first widely accepted plastic charge card was issued in 1958 by American Express. The first general use credit
card that allowed balances to be paid over time was the BankAmericard (which later changed its name to Visa in 1977),
issued in 1959 (Source: PBS Frontline; American Express, Visa USA).
- The average interest rate across all existing credit card accounts was 13.46 percent as of May 2007 (Source: Federal
Reserve).
- There were 984 million bank-issued Visa and MasterCard credit card and debit card accounts in the U.S in 2006
(Source: Visa USA, MasterCard International).
Sources quoted on Credit Cards
College Student Credit Card Debt Statistics:
Georgetown University runs a Credit Research Center. In a work from March 2002, concerning credit card debt, they've
published some statistics:
- College students carried an average of $552 in credit card debt, while young adults in the same age brackets carried
an average balance of $1,465 on their credit cards.
- The average amount of credit extended to students was $1,395, which was considerably less than the $3,581 in credit
obtained by young adults (non-students) of the same age. The average adult was able to obtain nearly $7,500 in credit.
- College students are more likely to pay off their credit card balance than any other demographic group studied.
- And while students are much more likely to pay off their balances, they tend to pay late and exceed their credit
limits more frequently than other groups and therefore incur more fees than other groups.
Money-Zine
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