Statistics on the average household credit card usage:
74.9% of all families now carry a credit card. (Federal Reserve Survey of Consumer Finances)
46.2% of all families now carry a credit card balance, an increase from
44.4% in 2001. (Federal Reserve Survey of Consumer Finances)
The mean credit card balance is now $5,100, up from $4,400 in 2001, and the median balance is $2,200, up from $2,000 in 2001. (2004 Federal Reserve Survey of Consumer Finances)
The average household with a 14.9% interest rate on a $5,100 balance pays $760 per year in interest.
The current median family income is $43,200 and the typical family’s credit card balance is almost 5% of its annual income. (Federal Reserve Survey of Consumer Finances)
The median number of bank cards per family is two. (2004 Federal Reserve Survey of Consumer Finances)
The median credit limit per family is $13,500. (2004 Federal Reserve Survey of Consumer Finances)
The average monthly spending on a credit card without a rewards program is $465. With rewards, that spending increases to $890. (Nilson Report)
U.S. consumers have an average of four credit cards. (Experian)
Approximately 14% of the U.S. population has more than 10 credit cards. (Experian)
Approximately 51% of the U.S. population has at least two credit cards. (Experian)
About 14% of the U.S. population uses at least 50% of their available credit. (Experian)
U.S. consumers who use at least 50% of their available credit have on average 6.6 credit cards. (Experian)
The national average credit score for those with credit card utilization of at least 50% is 645, compared with the overall national average of 674. (Experian)
Of those surveyed, 37% pay the entire balance on their credit card bill(s) each month. (Experian-Gallup survey)
Of those surveyed, 24% pay as much as they can but usually leave a balance. (Experian-Gallup survey)
Of those surveyed, 11% usually pay the minimum amount due on their cards but not much more. (Experian-Gallup survey)
Of those surveyed, 13% do not have any credit cards. (Experian-Gallup survey)
Less than half of all consumers have ever been reported as 30 or more days late on a payment. Only three out of 10 have ever been 60 or more days overdue on any credit obligation. (myFico.com)
Of all consumers, 77% have never had a loan or account 90+ days overdue and less than 20% have had a loan or account closed by a lender because of default. (myFico.com)
The typical consumer has access to approximately $19,000 combined from credit cards. More than half the people with credit cards use less than 30% of their total card limits. Just over one in seven uses 80% or more of his credit card limit.
On average, today’s consumer has 13 credit obligations on record at a credit bureau. Of these, nine are likely credit cards and four are likely installment loans. (myFico.com)
74.9% of all families now carry a credit card. (Federal Reserve Survey of Consumer Finances)
46.2% of all families now carry a credit card balance, an increase from
44.4% in 2001. (Federal Reserve Survey of Consumer Finances)
The mean credit card balance is now $5,100, up from $4,400 in 2001, and the median balance is $2,200, up from $2,000 in 2001. (2004 Federal Reserve Survey of Consumer Finances)
The average household with a 14.9% interest rate on a $5,100 balance pays $760 per year in interest.
The current median family income is $43,200 and the typical family’s credit card balance is almost 5% of its annual income. (Federal Reserve Survey of Consumer Finances)
The median number of bank cards per family is two. (2004 Federal Reserve Survey of Consumer Finances)
The median credit limit per family is $13,500. (2004 Federal Reserve Survey of Consumer Finances)
The average monthly spending on a credit card without a rewards program is $465. With rewards, that spending increases to $890. (Nilson Report)
U.S. consumers have an average of four credit cards. (Experian)
Approximately 14% of the U.S. population has more than 10 credit cards. (Experian)
Approximately 51% of the U.S. population has at least two credit cards. (Experian)
About 14% of the U.S. population uses at least 50% of their available credit. (Experian)
U.S. consumers who use at least 50% of their available credit have on average 6.6 credit cards. (Experian)
The national average credit score for those with credit card utilization of at least 50% is 645, compared with the overall national average of 674. (Experian)
Of those surveyed, 37% pay the entire balance on their credit card bill(s) each month. (Experian-Gallup survey)
Of those surveyed, 24% pay as much as they can but usually leave a balance. (Experian-Gallup survey)
Of those surveyed, 11% usually pay the minimum amount due on their cards but not much more. (Experian-Gallup survey)
Of those surveyed, 13% do not have any credit cards. (Experian-Gallup survey)
Less than half of all consumers have ever been reported as 30 or more days late on a payment. Only three out of 10 have ever been 60 or more days overdue on any credit obligation. (myFico.com)
Of all consumers, 77% have never had a loan or account 90+ days overdue and less than 20% have had a loan or account closed by a lender because of default. (myFico.com)
The typical consumer has access to approximately $19,000 combined from credit cards. More than half the people with credit cards use less than 30% of their total card limits. Just over one in seven uses 80% or more of his credit card limit.
On average, today’s consumer has 13 credit obligations on record at a credit bureau. Of these, nine are likely credit cards and four are likely installment loans. (myFico.com)
Posted by john at
6:06 PM
