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Is Your Credit Card Debt Average? And What's Average?

Saturday, June 14, 2014 - 7:49 PM
DailyFinance - Michele Lerner
styxstyx19 posts since
May 11, 2014
Rep Points: 115
1. Saturday, June 14, 2014 - 8:03 PM
OK. This is the straight skinny from the article: asked Experian in March 2013 to separate its data:
  • $8,220: Average balance for credit cards that usually carry a balance.
  • $1,037: Average balance for credit cards that are typically paid in full each month.
ShorebreakShorebreak2,700 posts since
Apr 6, 2010
Rep Points: 14,636
2. Sunday, June 15, 2014 - 9:10 AM
They seem very close for the "paid in full each month" cards.  I have a very high amount due this month but I used it to charge a medical device for DP.  I could have written a check but putting it on the card gave me longer before I have to pay it.  Credit cards can be very useful if you use them correctly and you don't purchase anything you can't pay in full each month.
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152
3. Monday, June 16, 2014 - 5:13 PM
I agree with Paoli2. Never carry a card balance.
klinkklink101 posts since
Dec 8, 2012
Rep Points: 276