Posted on
January 12, 2010
at
4:16 am
Hello.How much is the typical credit card debt? What's the usual purchase or charge?In which states?
Posted on
January 12, 2010
at
4:32 am
Typical credit card debtI got this from an MSN article:-Most households that carry balances owe $2,000 or less.-Only about 1 in 20 American households owes $8,000 or more on credit cards.
Posted on
January 12, 2010
at
4:48 am
But those figures about the typical American credit card debt can't really speak for all Americans, as according to -- the source of those figures (CardWeb):-23.8% of American households have no credit cards at all -- no bank cards, no retail cards, nothing.-the households that owed nothing on credit cards equaled 55% of the total.
Posted on
January 12, 2010
at
4:51 am
According, however, to the makers of the FICO score Fair Isaacs:-About 48% of credit card holders owed less than $1,000-About 10% of card holders had total card balances in excess of $10,000.-More than half of all people with credit cards use less than 30% of their total credit card limit.-Just over 1 in 8 people use 80% or more of their credit card limit.The more interesting question is, what do these figures imply?
Posted on
January 12, 2010
at
4:55 am
The typical credit card debt amount should be pitied against the typical income as well. If those are the figures for the average Americans in general..then the average or typical American is fine.
According to the same article:-More than a third -- 36% -- of those who owe more than $10,000 on their cards have household incomes under $50,000, according to the VIP Forum analysis.-13% who owe that much have household incomes under $30,000. and these would be the people that ups the bankruptcy filing rate.
Posted on
January 12, 2010
at
4:58 am
The typical credit card debt amount of ... $10,000 (balance) explains the settlement program's enrollment requirement of balances that are $10,000 and above -- because their income can support it...interesting.
Posted on
January 12, 2010
at
10:44 am
These figures are all over the place and confusing as all heck. And are these experts taking out current economy into consideration? I don't think so. With unemployement rates, one would think the current 'typical' credit card debt would be significantly higher. Personally, I don't think there is anything 'typical' any more.
Posted on
January 18, 2010
at
6:13 am
I think it would be interesting to know what the typical credit card debt is in the west coast, particularly the state of California - because I heard that in the east, the spending habit is much different.
