Research and Statistics

Infographic: Recession-hit areas’ residents still cautious with credit

The American economy is still sputtering its way to recovery from the recession, and that same uneven progress can also be seen in credit card debt.

Card debt overall is flat, according to September 2012 data from credit bureau Experian, but it varies by geography. In metropolitan areas still struggling, card debt is still shrinking. In areas that endured less-severe downturns, cardholders more readily pull out their cards and take on more debt.

“We are seeing the trend of the ‘disciplined consumer,'” says Trey Loughran, a spokesman for Equifax, in a release about the data. “We don’t know whether this is a long-term change yet, but generally speaking, Americans today continue to be prudent about credit.”

Credit card debt stil shrinking

See related:End of recession encourages consumers to spend smarter

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What’s up next?

In Research and Statistics

Rate survey: Credit card interest rates stuck at 15 percent

Oct. 3, 2012: Interest rates on new credit card offers remained at 15 percent on Wednesday, according to the Weekly Credit Card Rate Report

Published: October 3, 2012

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Credit Card Rate Report Updated: August 21st, 2019
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