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I Need a Credit Card – Credit Card Facts

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Some very interesting Credit Card Facts and Statistics.

Americans collectively are predicted to hold $1.177 trillion in credit card debt in 2011; and, one in seven Americans hold more than 10 cards. This indicates that not only are Americans continuing to spend, but many are reliant upon their credit cards to maintain their lifestyle.

    • Total U.S. revolving debt (98 percent of which is made up of credit card debt): $793.1 billion, as of May 2011 (Source: Federal Reserve’s G.19 report on consumer credit, July 2011)
    • The typical consumer has access to approximately $19,000 on all credit cards combined. More than half of all people with credit cards are using less than 30 percent of their total credit card limit. Just over one in seven is using 80 percent or more of their credit card limit. (Source: myfico.com)

Infographics: How Much Do We Need Our Credit Cards
Courtesy of: CreditDonkey

Searches People Used When Wanting a Credit Card.

Please ask yourself if you really need a credit card.  If it is your first, then yes to establish credit.

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About the Author

Rhonda Evans

Rhonda is the founder and editor of MoneyPoint Live. She is a retired Senior Chief from the USN, mother of two, previous small business owner, and entrepreneur.

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