American Debt and Credit Card Habits
All Contents © 2004 USDebtService.com
The way Americans spend money is a part of our self-indulgent culture. According to a recent online credit card poll, the average amount of credit card debt has plummeted by 29 percent. Over the last five years, Americans have streamlined their credit cards and loan debt.
Today, the average American carries over $2,000 in credit card debt. The amount of credit card debt is down by a thousand dollars. Moreover, Americans have reduced the weight of their wallets from 2.5 to 2.3 credits cards.
Not all Americans have been relieved of their debt load. Alternatively, a plethora of debt ridden Americans have expanded their debt by almost 20 percent. The survey results demonstrated the following American credit and debt trends:
- Midwesterners carry the smallest average in credit card balances – over $1,500.
- Southerners have an average of almost $1,900 bills and debt.
- People on the west coast carry an average balance of $2400 or more.
- In the northeast, Americans carry the largest credit card ($3,500+).
- Males have an average of $2,800 of credit card debt and females have an average of $1,700.
- Retirees (aged 65 and older) and people aged 18-24 have an average of a thousand dollars of credit card debt.
- In the 25-34 age demographic, the average debt load is over $2000.
- People aged 35-44 credit card and debt averages $3,800 or more.
- For middle-aged Americans (45-64), credit card debt ranges between $1,600 and $2,600.
American’s, in general, have problems with credit cards and continue to stuggle and find ways to eliminate credit card debt.
Start Eliminating Credit Card Debt today by consolidating your credit cards.
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