Credit Card Debt Statistics … The Numbers Might Surprise You
Posted on January 9, 2008
Filed Under Observations
A few weeks ago I came across a fascinating article written by Associated Press writers, Rachel Konrad and Bob Porterfield titled, “Unpaid Credit Cards Bedevil Americans”. Here are a few highlights from their article that really caught my attention:
- In October 2007, credit card debt that was at least 30 days late totaled $17.6 billion — up 26% from October 2006.
- Some credit card companies, including Advanta, GE Money Bank and HSBC, are reporting a 50% increase in accounts that are at least 90 days past due when compared to the same time a year ago.
- Capital One Financial Corp. reported that credit card delinquencies are highest in the same geographic regions where people are having trouble paying their mortgages, which include California and Florida.
If you’d like to read the full article, here’s the link >> Unpaid Credit Cards Bedevil Americans
If you’re looking for additional information on credit card debt statistics, here’s another link that might be of interest to you >> Credit Card Debt Statistics
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