The Rise of Consumer Debt

THE RISE O CONSUMER DEBT ership DEBT PER TOTAL U.S. CREDIT CARD HOUSEHOLD WITH CARDS DEBT WAS LESS THAN $8 BILLION IN 1968.* $11,000 ISA $10,679 $10,000 BY 2009, AMERICANS' CREDIT CARD DEBT REACHED $972.73 BILLION. $9,000 THE NUMBER OF AMERICANS WITH PROJECTED CREDIT CARDS IS EXPECTED TO $8,000 GROW TO 181 MIL- LION BY 2010. 78 % OF AMERI- CAN HOUSE- $7,000 HOLDS, ABOUT 91.1 MILLION, HAD AT LEAST ONE THERE WERE 90.4 BY 2006, THERE MILLION HOUSE- HOLDS WITH CARDS IN 2007. WERE 173 MILLION CREDIT CARD BY THE END OF 2008. CREDIT CARD- THERE WERE 159 $6,000 HOLDERS IN THE MILLION CREDIT U.S. CARDHOLDERS IN $5,800 THE U.S. IN 2000. $5,000 1997 1995 2004 2005 1998 2000 2001 2002 THE AVERAGE AMERICAN WITH A CREDIT MORE THAN 23 BILLION CREDIT CARD 16K FILE IS RESPONSIBLE FOR $16,635 IN DEBT, 26% TRANSACTIONS WERE PROCESSED IN THE EXCLUDING MORTGAGESS, ACCORDING TO EXPERIAN. US IN 2007. THEY ARE PROJECTED TO 94, GROW BY 26 PERCENT BY 2011. APPROXIMATELY 14 PERCENT OF THE U.S. POPULATION HAS MORE THAN 10 CREDIT TOTAL U.S. CONSUMER REVOLVING DEBT FELL TO $963.5 BILLION IN DECEMBER 2008. ABOUT 98 PERCENT OF THAT DEBT CARDS. 98 WAS CREDIT CARD DEBT. U.S. CONSUMERS HAVE AN AVERAGE OF FOUR CREDIT CARDS. APPROXIMATELY 51 PERCENT OF THE U.S. POPULATION HAS AT LEAST TWO CREDIT CARDS. IN CURRENT DOLLARS SOURCE: CREDITCARDS.COM 1995 1996 QUICK FACTS 1999 2003 2006 2007 2008