Two thirds of American households (68%) have at least one credit card, according to Associated Press and GfK Roper Public Affairs. More than six in 10 card holders (61%) used their card for a purchase or cash advance in the prior month. Of those, 71% paid off the full amount of the charges they incurred, while 29% carried a balance.
Only 23% of card holders do not owe any amount on their credit cards. Overall, credit card holders owe a mean of $3,900 on their cards, and an average of $905. Both amounts are a decline from 2009 when Americans owed a mean $4,900, and an average of $1,000.
Nearly one in 10 (9%) have reached the credit limit on at least one of their cards, and the same proportion (9%) did not pay at least the minimum amount due on one of their cards in the prior six months. [Consumer Spending & Attitudes]
Source: “Stress And Debt Poll,” Associated Press Polls, 75 Ninth Ave., 5th Fl., New York, NY 10011; 212-240-5467; info@ap-gfkpoll.com; www.ap-gfkpoll.com.
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