CONSUMER CREDIT STATISTICS -- HOW DOES YOUR USE OF CREDIT COMPARE TO OTHERS? The consumer spending information below was compiled as a result of research conducted in 2005 by a major consumer credit organization. How does your credit compare to others? -- About 30 million Americans have extremely poor credit scores (under 620) that prevent them from obtaining credit cards and mortgages at an affordable interest rate. -- 11% of Americans have a credit score above 800 -- 29% have scores between 750 and 799 -- 40% of Americans have a good to excellent credit rating How well do you pay your debts compared to others? --Those aged 30 to 39 have the highest number of late payments in any given year. -- About 38% of consumers have been reported to the credit bureaus as 30 or more days late on a payment; 20% have been more than 60 days late with a payment -- 85% of consumers have never been more than 90 days late with a payment How much debt do you have compared to others? -- The average American spends 26% of their income on monthly debt (excluding mortgage/rent) -- Those aged 50 to 59 have the highest amount of debt, around $21,000, not including mortgages -- About 30 percent of consumers owe more than $30,000 in debt -- 54% have less than $5,000 in debt (excluding mortgage loans) How do you use credit cards compared to others? -- The average consumer has 7 open credit card accounts -- About half of all consumers carry a balance of $1000 or less on their credit cards. -- About 10 percent of consumers habitually carry balances of more than $10,000 on their credit cards -- The total credit limit on all credit cards held by the average consumer is $12,000 -- About half of all consumers use less than 30% of their credit card limits -- Those aged 70 or older use credit cards the least, around 13% |
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Credit > Credit Statistics |
Credit > Credit Statistics |
Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve your credit rating and reduce monthly payments by $200+ |
CONSUMER CREDIT STATISTICS -- HOW DOES YOUR USE OF CREDIT COMPARE TO OTHERS? The consumer spending information below was compiled as a result of research conducted in 2005 by a major consumer credit organization. How does your credit compare to others? -- About 30 million Americans have extremely poor credit scores (under 620) that prevent them from obtaining credit cards and mortgages at an affordable interest rate. -- 11% of Americans have a credit score above 800 -- 29% have scores between 750 and 799 -- 40% of Americans have a good to excellent credit rating How well do you pay your debts compared to others? --Those aged 30 to 39 have the highest number of late payments in any given year. -- About 38% of consumers have been reported to the credit bureaus as 30 or more days late on a payment; 20% have been more than 60 days late with a payment -- 85% of consumers have never been more than 90 days late with a payment How much debt do you have compared to others? -- The average American spends 26% of their income on monthly debt (excluding mortgage/rent) -- Those aged 50 to 59 have the highest amount of debt, around $21,000, not including mortgages -- About 30 percent of consumers owe more than $30,000 in debt -- 54% have less than $5,000 in debt (excluding mortgage loans) How do you use credit cards compared to others? -- The average consumer has 7 open credit card accounts -- About half of all consumers carry a balance of $1000 or less on their credit cards. -- About 10 percent of consumers habitually carry balances of more than $10,000 on their credit cards -- The total credit limit on all credit cards held by the average consumer is $12,000 -- About half of all consumers use less than 30% of their credit card limits -- Those aged 70 or older use credit cards the least, around 13% |
