OMG! We Owe HOW Much?
• The money Americans owe on our credit cards is staggering (so mind-boggling that Mark the accountant can’t stand up straight as he walks) at over $800 billion. Credits card debt is the third largest type of consumer debt, after car loans and student loans.
• Think about it. There are 312 million people in the U.S. right now, that works out to be about $2,500 in credit card debt for each and every man, woman, and child in America.
• ‘Course, not everybody has a balance on their card, so just look at the households (a group of people living in the same house sharing money, food, blood, etc.) that have a balance on their cards. Each of these households owes an average $14,500.
|According to NerdWallet||March 2012|
|Total revolving debt||$803.6 billion|
|Number of U.S. households||118,666,137|
|Average credit card debt per household||$6,772|
|% of households with a credit card balance||46.70%|
|Average credit card debt per indebted household||$14,517|