Credit Card Debt NEWS

EXTREMELY INTERESTING credit card debt statistics

Published by admin on August 23, 2011

EXTREMELY INTERESTING credit card debt statistics

There are many people out there that might think that the credit card debt represents a boring topic and reading about it is definitely not going to be something interesting. We have gathered here a lot of information and facts about the credit card debt that is definitely going to be something very interesting and you will enjoy reading.

First of all here you are going to find out how popular the credit cards are. Here are some numbers taken out of the official websites of MasterCard, Visa and AmericanExpress. These numbers represent the total number of cards that are in circulation in the United States in the year 2010:

American Express credit: 48.9 million (Source: AmericanExpress.com)
MasterCard credit: 171 million (Source: MasterCard)
MasterCard debit: 123 million (Source: MasterCard)
Visa credit: 269 million, as of Sept. 30, 2010 (Source: Visa)
Visa debit: 397 million, as of Sept. 30, 2010 (Source: Visa)

In April 2010 the credit card debt that hasn’t been paid for at least 60 days was only 4.27%.

In United States in May 2011, there were more than $793.1 Billion in revolving debt (which is made 98% of credit card debt). While at the same time the total amount of consumer debt was $2.43 trillion dollars.

The average total debt (including, mortgage, credit cards, student loans plus all the other types of consumer debt and loans) that people have in 2009 went down a lot. Back in the year 2008 it used to be $35,245 and in 2009 it went down to 16,046.

51 percent of the US population has at least two credit cards. That’s 305,000,000 plastic cards which would span 16,223 miles, 65% around the world. You could create a wide enough path to walk over the Atlantic Ocean.

In case you will only pay the 2% which is the minimum payment made for a credit card, you would have to spend 22 years paying it and for a $1,000 credit card debt, the total interest rates cost would be $2,300 (this means $3,300 in total). This is definitely going to make you think twice next time you are thinking about paying back the minimum on your credit card debt.

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