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In 2024, credit card debt accounted for 6.36% of all United States household debt, up from 5.8% in 2020. Credit card balances surged during the pandemic and, by the end of 2022, Alaska led the ...
(The Center Square) - The average American household credit card balance as of the third quarter of 2024 was about $10,757 after adjusting for inflation, according to a new study.
The average credit card balance is $8,483 and the average interest rate is 21.59%. ... Here's an estimate for how much the typical household would pay if they had a credit card with the average ...
At the same time, the average credit card APR in 2023 was a whopping 22.8%. That's the highest these rates have been since the Federal Reserve started collecting this data back in 1994.
A recent The Motley Fool Ascent research study examined the average American household's debt. ... the average credit card balance in the third quarter of 2023 was $6,501, up from $5,910 in 2022 ...
For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
Key credit card debt statistics. Average credit card balance in 2023: $6,501. Average credit utilization rate in 2023: 30% Average number of credit cards in 2021: 3.84
The average credit card APR is about 23%, according to November 2023 Federal Reserve data, which means the average $6,501 balance would accrue about $112 in interest each month.
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