Credit card debt and Americans seem to go hand-in-hand for the last few decades, right? Credit card in America continues to rise. Nerdwallet recently completed their 2017 Household Credit Card Debt Study.
“Americans’ total credit card debt continues to climb in 2017, reaching an estimated $905 billion — a nearly 8% increase from the previous year — according to a NerdWallet analysis. [1]
And the average household that’s carrying credit card debt has a balance of $15,654. Households with any kind of debt owe $131,431 (including mortgages), on average, the data analysis found.”
The study goes on to break down the categories of household debt, and the rise in percentage of that debt category. The study also discusses ways to lower household debt.
To read the full study, visit the Nerdwallet website here.
