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

Saturday, June 14, 2014 - 7:49 PM
DailyFinance - Michele Lerner http://www.dailyfinance.com/2014/06/11/is-your-credit-card-debt-average/
5
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:
CreditCards.com 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.
5
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.
4
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.
5
klinkklink101 posts since
Dec 8, 2012
Rep Points: 276
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