USA   |   UK   |   Australia   |   Canada
ADVERTISEMENT

Infographic: Americans shed credit cards and debt post-recession

By Juan Rodriguez and 

The amount of credit card debt held by Americans sharply fell from 2007 -- the beginning of the recession -- to 2010, according to a closely watched Federal Reserve report,  Survey of Consumer Finances. The data from the survey of nearly 6,500 interviews of U.S. consumers reveals that in 2010, the median amount of debt among households carrying a credit card balance fell to $2,600 from $3,000 in 2007 -- or 16.1 percent. Additionally, the number of cards per household decreased. In 2007, 35 percent of families held four or more credit cards; this fell to 32.7 percent in 2010.

The survey is released every three years. The 2010 data was released in June 2012.

Median credit card debt

To use this CreditCards.com graphic on your site, use the following code:

 <center><a href=http://www.creditcards.com/credit-card-news/infographic-recession-shrinks-card-debt-1701.php><img alt="CreditCards.com Infographic: Americans shed credit cards and debt post-recession" border="0" src="http://www.creditcards.com/credit-card-news/images/infographic-median-cc-debt-lg.jpg" height="486" width="344" /></a> </center>

See more infographics

Published: June 21, 2012


If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

Three most recent Infographics stories:

Share This Story




Follow Us!


Credit Card Rate Report

Updated: 07-22-2014

National Average 15.03%
Low Interest 10.37%
Balance Transfer 12.64%
Business 12.80%
Student 13.27%
Cash Back 14.91%
Reward 15.00%
Airline 15.46%
Bad Credit 22.73%
Instant Approval 28.00%

ADVERTISEMENT
ADVERTISEMENT