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Consumer dEBT sTATISTICS*

• There are 1.3 billion payment cards - including credit cards, debit cards and store cards - in circulation in the United States. The average American home has 13 payment cards.
• Americans make over 1.5 trillion dollars worth of credit card purchases annually.
• The typical credit card purchase is 112% higher than if using cash.
• Over 40% of US families spend more than they earn.
• Americans carry, on average, $8400 in credit card debt. If one were to make a 2% payment every month at an annual APR of 15%, it would take about 30 years to pay off and include about $13,000 in interest.
• The average U.S household pays $950 in interest each year.
• About 18% of all U.S. personal consumption expenditures (PCE) are made on bank credit cards. If retail cards and debit cards are included, the figure rises to 24%.
• 96% of all Americans be financially dependent on the government, family, or charity at retirement.
• Almost 1 in every 100 households in the United States will claim bankruptcy.
• According to the National Association of Realtors, the average homeowner stays in his home for 7.1 years. With an 8% mortgage, he will sell his home still owing over 90% on his mortgage. If he was to continue this trend, he would never pay off a mortgage in his lifetime. Only 2% of homes in America are paid for.
• On average, Americans can expect to receive only 37% of the amount they will need to live comfortably from their retirement plan.
• Nearly half of all Americans have less than $10,000 saved for their retirement. 39% of Americans are anxious about their ability to achieve their desired retirement lifestyle.

*These numbers change and may not be the most updated information.
 

Education Center

Helpful Financial Forms - Download financial forms.

Credit Cards - Learn about important terms before applying for a credit card.

Consumer Rights - Learn about your rights under the Fair Credit Reporting Act.

Debt Warning Signs - Learn about the warning signs of debt.

Credit Scores - Learn about credit scores and why they are so important.

Telemarketing Scams - Top 10 telemarketing scams.

Money Saving Tips - Tips to help you save money.

Consumer Debt Statistics - Detailed consumer debt statistics in the U.S.

Debt Management Plan - How debt management helps you.

Credit Repair - How credit repair helps you.

Foreclosure Prevention - How and why to prevent foreclosure.

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