Us Credit Card Debt
Credit card delinquency rates for people aged between 18-29 is 46 higher than the average.
Us credit card debt. 1 The latest estimates from US Department of the Treasury Secretary Mnuchin predict the countrys unemployment rate rising as high as 20 percent in the coming year while other forecasts include a worst-case scenario of more than 30 percent 2. Is 4165 trillion with outstanding revolving debt being 1089 trillion. Is 3000 and number of cards held is two.
For people aged between 18-29 the proportion of credit card debt to total debt ranges from 70 to more than 100 higher than all other age groups. 6270 Total outstanding US. By contrast the average credit-card debt of households currently stands at around 8400.
The total amount of debt carried as credit card balances hit 830 billion at the end of 2017. Credit card debt has crept higher each year and American consumers began the year 2020 carrying a whopping 1 trillion in credit card debt. Credit card debt hit a record high of 930 billion for Americans in the final quarter of 2019 according to the latest data from the Federal Reserve Bank of New York released on Feb.
A typical American has 52 more debt than in the year 2000. The median credit card debt in the US. According to a recent Household Debt and Credit survey conducted by the New York Fed Americans owed 807 billion in credit card debt in the third quarter of 2020.
Average Credit Card Debt. Americans began 2020 owing more than 1 trillion in credit card debt after a 767 billion net increase during 2019. Consumers quickly changed course however posting the biggest first-quarter credit card debt paydown ever at 60 billion.
Learn the causes of credit card debt and how it can affect people. Household was 6194 in 2019 up 3 over 2018. College graduate begins his or her post-college days with more than 2000 in credit card debt.