GITNUX MARKETDATA REPORT 2024

Statistics About The Average Credit Card Payment Per Month

The average credit card payment per month across all consumers is estimated to be around $300-$400.

Last Updated: June 20, 2024

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In this post, we explore various statistics related to credit card debt in the United States. From the average amount of debt carried by households to the percentage of consumers maintaining a balance on their credit cards, these figures shed light on the financial landscape of credit card usage in the country. Join us as we uncover the numbers behind credit card payments and debt in America.

Statistic 1

"U.S. households carry an average of $8,398 in credit card debt."

Statistic 2

"About 38.1% of all households in the U.S. carried some sort of credit card debt in 2013."

Statistic 3

"The average monthly credit card payment is about 4% of one's overall balance."

Statistic 4

"29% of consumers maintain a balance on their credit card"

Statistic 5

"An average borrower will spend $1,141 on interest per year if they make only the minimum payment on their credit card."

Statistic 6

"The average US adult with a credit card carries $5,234 in credit card debt."

Statistic 7

"47% of millennials carry a credit card balance."

Statistic 8

"Consumers in the Northeast have the highest credit card balances, with an average balance of $7,552."

Statistic 9

"As of 2020, the total U.S. consumer debt is at $14.1 trillion, with credit cards making up $930 billion."

Statistic 10

"Overall U.S. credit card debt statistics show that Americans owed more than $1 trillion in credit card debt in 2020."

Statistic 11

"The median debt per American adult with a credit card is $2,700."

Statistic 12

"Default rates for credit card loans was 2.54% in Q3 2019."

Statistic 13

"More than one-third of all households, or around 43 million, have credit card debt."

Statistic 14

"60% of credit card accounts are not paid in full each month."

Statistic 15

"The average U.S. adult owes $5,315 in credit card debt."

The statistics presented reveal a concerning picture of credit card debt in the United States, showcasing high average balances and a significant portion of households carrying debt. With substantial interest payments and a large percentage of consumers not paying their balances in full each month, it is evident that credit card debt is a prevalent issue affecting millions of Americans. The data underscores the importance of financial literacy and responsible borrowing practices to mitigate the burden of debt and work towards achieving greater financial stability.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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