Real Credit Card Debt

Contributed by mm | August 1, 2004 07:25 AM PST

An interesting discussion from CardWeb on American's real credit card debt: excluding the amount that is paid off every month, each man, woman and child in this country owes $2,027 revolving credit card debt on average, compared to $1,100 for Brits and $675 for Aussies.

Some other interesting facts revealed by this discussion:

- US cardholders charge around $108 billion every month, or which 60% is paid-off in-full.

- The total outstanding credit card debt is $677 billion, including $65 billion for the paid-off in-full amount and $18 billion business card balance.

- The gross credit limit for credit cards in the USA is $1.5 trillion, which means we tapped 45% of the total available credit line (which is a high number in my eyes).

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