Credit Karma reports that average consumer credit card debt levels fell by about $ 1000 between January 2009 and now, which
puts average credit card debt at about $ 6400.
Most studies
put the average credit card debt of cardholders at anywhere from $ 5,100 to more than $ 8,000.
Not exact matches
NerdWallet's 2017 household debt study shows that several major spending categories have outpaced income growth over the past decade; many Americans are
putting medical expenses on
credit cards; and the
average indebted household is paying hundreds of dollars in
credit card interest each year.
And adding $ 800 or so to the
average household
credit card debt of $ 7087 is bound to
put more pressure on you when it comes to repayments.
In celebration of
credit cards, LendEDU has
put together a comprehensive report detailing the
average credit debt in individual U.S. cities and states.
Although the Federal Reserve Bank reports that the number of
credit card accounts has declined since 2008, we're still
putting more than $ 1.9 trillion a year on our
credit cards,
averaging at about $ 9,000 per household.
Putting $ 1,000 on a
credit card with an
average APR of 14.6 percent costs $ 12 per month in interest.
Putting $ 100 worth of expenses on
credit cards at the current
average interest of 17.42 percent would mean $ 9,600 in debt upon graduation.
To
put that in perspective, the
average APR among all
credit cards is 14 %, more than 10 percentage points lower.
Put yourself in a creditor's position: you have 5 months
average credit history (you haven't specified the oldest account age), and you applied for four
cards in the past 8 months alone, had three approved.
Because the
average American has $ 4,717 of
credit card debt, saving money allows you to have extra funds on hand when you need to
put something on your
credit card now to pay later.
That means, until the
card is paid off, keep to your budget and wait to
put money into investments (it's nearly impossible for the
average investor to beat the 15 % your
credit card will charge you).
Rate survey:
Average card APR stays put at 16.41 percent — Feb. 14, 2018: The average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate
Average card APR stays put at 16.41 percent — Feb. 14, 2018: The average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Rep
card APR stays
put at 16.41 percent — Feb. 14, 2018: The
average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate
average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate R
credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Rep
card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly
Credit Card Rate R
Credit Card Rate Rep
Card Rate Report.
Rate survey:
Average card APR stays put at 16.14 percent — August 30, 2017: The average interest rate for new credit card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate
Average card APR stays put at 16.14 percent — August 30, 2017: The average interest rate for new credit card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate Rep
card APR stays
put at 16.14 percent — August 30, 2017: The
average interest rate for new credit card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate
average interest rate for new
credit card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate R
credit card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate Rep
card offers remained at a record high Wednesday for the third consecutive week, according to the CreditCards.com Weekly
Credit Card Rate R
Credit Card Rate Rep
Card Rate Report.
Average card APR remains at 15.51 percent for second week: CreditCards.com Weekly Credit Card Rate Report — March 15, 2017: The national average APR on new card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (Se
Average card APR remains at 15.51 percent for second week: CreditCards.com Weekly Credit Card Rate Report — March 15, 2017: The national average APR on new card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See A
card APR remains at 15.51 percent for second week: CreditCards.com Weekly
Credit Card Rate Report — March 15, 2017: The national average APR on new card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See A
Card Rate Report — March 15, 2017: The national
average APR on new card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (Se
average APR on new
card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See A
card offers stayed
put this week, according to the CreditCards.com Weekly
Credit Card Rate Report... (See A
Card Rate Report... (See APRs)
Credit card interest rates hold steady at 15.01 percent — Feb. 26, 2014: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate R
Credit card interest rates hold steady at 15.01 percent — Feb. 26, 2014: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Rep
card interest rates hold steady at 15.01 percent — Feb. 26, 2014:
Average rates on new
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate R
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Rep
card offers stayed
put this week, according to the CreditCards.com Weekly
Credit Card Rate R
Credit Card Rate Rep
Card Rate Report.
Credit card interest rates remain stuck at 15.01 percent — March 12, 2014: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate R
Credit card interest rates remain stuck at 15.01 percent — March 12, 2014: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Rep
card interest rates remain stuck at 15.01 percent — March 12, 2014:
Average rates on new
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate R
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Rep
card offers stayed
put this week, according to the CreditCards.com Weekly
Credit Card Rate R
Credit Card Rate Rep
Card Rate Report.
Credit card interest rates stay at 14.89 percent for 7th straight week — Feb. 18, 2015: Average rates on new credit card offers stayed put again this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate r
Credit card interest rates stay at 14.89 percent for 7th straight week — Feb. 18, 2015: Average rates on new credit card offers stayed put again this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card interest rates stay at 14.89 percent for 7th straight week — Feb. 18, 2015:
Average rates on new
credit card offers stayed put again this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate r
credit card offers stayed put again this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card offers stayed
put again this week, according to the CreditCards.com Weekly
Credit Card Rate Report... (See Rate r
Credit Card Rate Report... (See Rate rep
Card Rate Report... (See Rate report)
Credit card interest rates hover near record highs — Oct. 16, 2013: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate r
Credit card interest rates hover near record highs — Oct. 16, 2013: Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card interest rates hover near record highs — Oct. 16, 2013:
Average rates on new
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate r
credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card offers stayed
put this week, according to the CreditCards.com Weekly
Credit Card Rate Report... (See Rate r
Credit Card Rate Report... (See Rate rep
Card Rate Report... (See Rate report)
Rate survey:
Average card APR stays put at 16.41 percent — Feb. 14, 2018: The average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate
Average card APR stays put at 16.41 percent — Feb. 14, 2018: The average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Rep
card APR stays
put at 16.41 percent — Feb. 14, 2018: The
average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate
average credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate R
credit card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly Credit Card Rate Rep
card interest rate remained at a record high Wednesday, according to the CreditCards.com Weekly
Credit Card Rate R
Credit Card Rate Rep
Card Rate Report.
Average card APR stays put at 16.15 percent for fifth week: Weekly Credit Card Rate Report — Oct. 18, 2017: Interest rates on new card offers remained fixed in place Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report... (See Ra
card APR stays
put at 16.15 percent for fifth week: Weekly
Credit Card Rate Report — Oct. 18, 2017: Interest rates on new card offers remained fixed in place Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report... (See Ra
Card Rate Report — Oct. 18, 2017: Interest rates on new
card offers remained fixed in place Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report... (See Ra
card offers remained fixed in place Wednesday, according to the CreditCards.com Weekly
Credit Card Rate Report... (See Ra
Card Rate Report... (See Rates)
Credit card interest rates stay put at 14.9 percent — April 15, 2015: Average rates on new card offers didn't budge this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card interest rates stay
put at 14.9 percent — April 15, 2015:
Average rates on new
card offers didn't budge this week, according to the CreditCards.com Weekly Credit Card Rate Report... (See Rate rep
card offers didn't budge this week, according to the CreditCards.com Weekly
Credit Card Rate Report... (See Rate rep
Card Rate Report... (See Rate report)
Each new
credit card account drags down your
average age of
credit and
puts another hard
credit pull onto your account.
Taking an
average Americans salary of 5k a month and
putting 600 in
credit cards, 600 in car loans, 1000 in savings, 600 in misc, 1300 house payment you are left with an Noi of 5k - 4.1 k = 900 bucks