The US Credit Card Crisis

THE US CREDIT CARD CRISIS Key Facts: The US accounts for Some credit card companies made lobbying efforts at the federal level to tighten American bankruptcy law, making it harder to have credit card debts canceled. 40% of world credit card spending PER CAPITA CREDIT CARD DEBT: There were 984 million bank- $6,800 issued Visa and Master Card credit card and debit card accounts in the $5,500 $5,400 U.S in 2006. $4,100 $3,100 Consumers carry more than I billion Visa cards worldwide. $2,100 More than 450 million of those cards are in the United States. USA Australia Canada UK Ireland Japan Most general purpose credit cards in circulation in 2008 cíti CHASE Bank of America. DISCOVER CapitalOne AMERICAN EXPRESS HSBC GE GE Money UNITED STATES O TARGET WELLS FARGO Bank of America. AMERICAN EXPRESS WELLS CapitalOne CHASE O FARGO Profit gained 1.07 Billion Profit gained 1.00 Billion Profit gained 0.99 Billion Profit gained 0.85 Billion Profit gained 0.78 Billion 119.4 million 38.8 llion 92.0 million 27.2 48.0 million million 80.2 million 23.4 million 46.5 million 17.3 million 46.3 million