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Credit Card Debt

Oct 9, 2013 | Personal Finance

Credit Card Debt

How Much Does the Average American Owe?

As of September 2013 the average US household credit card debt stands at $15,185, the result of a small number of deeply indebted households forcing up the numbers. Based on Federal Reserve statistics, the average household owes $7,084 on their credit cards.

The average American household owed far more than the norm, and also that the average indebted household owed far more than the average household overall. Large discrepancies like this show that a relatively small number of households were deeply in debt.

Here is the takeaway:

  1. Overall debt is down.
  2. The average indebted household is less in debt.

How much credit card debt do you have?

Here’s how it looks by state.

Written by Joel Manzer

Once an active writer on financial issues, Joel is a blogger, social media maven and autism dad, Joel now runs autisable.com one of the largest living with autism sites in the world.

The information provided is for informational purposes only and is not a substitute for professional financial advice. You should consult a credit counseling professional concerning the information provided and what should work best in your financial situation. And any action on your part in response to the information provided is at your discretion.

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