Average Credit Card Debt Statistics, Historical Balances & More
1:29 PMPosted by: Odysseas Papadimitriou
Credit card debt levels offer valuable insights into the state of the economy as well as financial literacy and consumer habits. Year-over-year changes in the total debt load, for example, illustrate the economy’s trajectory, lend context to current events, and reveal potential problem areas for regulators. Similarly, average household balances and default rates enable consumers to determine if their situation is within the norm, while giving retailers and economists a sense of whether or not spending levels are sustainable.
In considering credit card debt statistics, one must not overlook the importance of charged-off debt. Pundits often ignore this old debt, which consumers have defaulted on and banks have written off their books. However, the statute of limitations for credit card debt can be up to 15 years, which means consumers will still owe the money and collectors will try to recoup it long after it’s charged-off. What’s more, failing to include charged-off debt among total amounts owed leads to a very misleading picture of consumer payment habits.
Across this page when we refer to credit card debt, it means outstanding credit card balances and does not include all the credit card debt that consumers defaulted on and are still liable for.
- Total Credit Card Debt
- Credit Card Debt by Household
- Credit Card Debt by Region
- Available Credit, Monthly Payments and Credit Lines
- Credit Card Balances by Family Characteristics
- Business Credit Card Statistics
- Raw Data
(Source: FRBNY Consumer Credit Panel/Equifax, Federal Reserve & WalletHub data) View Raw Data
- According to the Federal Reserve Bank of Boston, the percentage of surveyed individuals who carried an unpaid balance increased from 38.7% in 2010 to 41.6% in 2014.
(Source: FRBNY Consumer Credit Panel/Equifax)
Credit Card Debt by Household(Source: WalletHub Data, FDIC, Q4 2016)View Raw Data
- The wide spread between the 2013 mean and median values suggests that at the time 50 percent or more of American families had credit card balances of over $9,100.
- The average amount of money owed per individual on revolving credit accounts (e.g. credit cards) and fixed payment accounts (e.g. auto loans), excluding real estate mortgages is $12,808
- Regions with highest average debt: New England – $15,710; Middle Atlantic – $14,091
- Region with lowest average debt: East South Central – $10,787
- The large amount of debt in New England coincides with an average credit score of 709, higher than any other region. This suggests that the amount of debt in that region is related to the large line of credit that is extended to people with high credit scores. This is not the case, however, in the Middle Atlantic where the average amount of debt is higher than any other region and the average credit score is 701.
(Source: Experian National Score Index, November 2013)
- The typical consumer has access to approximately $19,000 on all credit cards combined. More than half of all people with credit cards are using less than 30 percent of their total credit card limit. Just over one in seven is using 80 percent or more of their credit card limit.
- Pacific is the region with the lowest balance-to-limit ratio and one of the highest average credit scores. It is interesting to note that they are also one of the regions with the highest average debt per person. These numbers indicate that the high amount of debt compared to the national average has to do with large lines of credit that are extended to people with high credit scores. The high dollar amount of debt is a small percentage of their credit line, which explains the low balance-to-limit ratio.
Note: All of the following are based on the Federal Reserve, 2012 bulletin.
Business Credit Card Statistics
(Source: National Small Business Association, 2012)
(Source: The Federal Reserve, 2011) Raw Data
Total Credit Card Debt Balance (in Billions)
| Year & Quarter | Federal Reserve & WalletHub Credit Card Debt Balance | FRBNY & Equifax Credit Card Debt Balance | Credit Card Debt As % of Total Debt (FRBNY & Equifax) | FRBNY & Equifax Total Debt |
|---|---|---|---|---|
| 99:Q1 | $568 | $480 | 10.57% | $4,540 |
| 99:Q2 | $581 | $480 | 10.37% | $4,630 |
| 99:Q3 | $592 | $500 | 10.37% | $4,820 |
| 99:Q4 | $615 | $500 | 10.50% | $4,760 |
| 00:Q1 | $604 | $520 | 10.28% | $5,060 |
| 00:Q2 | $624 | $540 | 10.29% | $5,250 |
| 00:Q3 | $645 | $530 | 9.93% | $5,340 |
| 00:Q4 | $688 | $580 | 10.53% | $5,510 |
| 01:Q1 | $680 | $600 | 10.42% | $5,760 |
| 01:Q2 | $695 | $610 | 11.03% | $5,530 |
| 01:Q3 | $691 | $630 | 10.70% | $5,890 |
| 01:Q4 | $720 | $640 | 10.79% | $5,930 |
| 02:Q1 | $697 | $630 | 10.06% | $6,260 |
| 02:Q2 | $715 | $660 | 10.48% | $6,300 |
| 02:Q3 | $727 | $680 | 10.16% | $6,690 |
| 02:Q4 | $757 | $690 | 10.36% | $6,660 |
| 03:Q1 | $736 | $688 | 9.84% | $6,990 |
| 03:Q2 | $744 | $693 | 9.71% | $7,140 |
| 03:Q3 | $749 | $693 | 9.49% | $7,300 |
| 03:Q4 | $775 | $698 | 8.94% | $7,810 |
| 04:Q1 | $753 | $695 | 8.64% | $8,040 |
| 04:Q2 | $759 | $697 | 8.50% | $8,200 |
| 04:Q3 | $777 | $706 | 8.30% | $8,510 |
| 04:Q4 | $808 | $717 | 8.24% | $8,700 |
| 05:Q1 | $778 | $710 | 8.04% | $8,830 |
| 05:Q2 | $792 | $717 | 7.86% | $9,120 |
| 05:Q3 | $802 | $732 | 7.77% | $9,420 |
| 05:Q4 | $840 | $736 | 7.66% | $9,610 |
| 06:Q1 | $825 | $723 | 7.27% | $9,950 |
| 06:Q2 | $842 | $739 | 7.17% | $10,310 |
| 06:Q3 | $859 | $754 | 7.08% | $10,650 |
| 06:Q4 | $905 | $767 | 7.08% | $10,830 |
| 07:Q1 | $875 | $764 | 6.96% | $10,970 |
| 07:Q2 | $898 | $796 | 7.01% | $11,350 |
| 07:Q3 | $927 | $817 | 7.04% | $11,610 |
| 07:Q4 | $982 | $839 | 7.09% | $11,830 |
| 08:Q1 | $953 | $837 | 7.00% | $11,960 |
| 08:Q2 | $964 | $850 | 7.08% | $12,010 |
| 08:Q3 | $964 | $858 | 7.11% | $12,060 |
| 08:Q4 | $984 | $866 | 7.20% | $12,030 |
| 09:Q1 | $922 | $843 | 7.10% | $11,870 |
| 09:Q2 | $909 | $824 | 7.03% | $11,720 |
| 09:Q3 | $898 | $812 | 7.01% | $11,580 |
| 09:Q4 | $898 | $795 | 6.94% | $11,450 |
| 10:Q1 | $838 | $762 | 6.72% | $11,350 |
| 10:Q2 | $825 | $744 | 6.66% | $11,170 |
| 10:Q3 | $813 | $731 | 6.61% | $11,060 |
| 10:Q4 | $823 | $730 | 6.69% | $10,900 |
| 11:Q1 | $777 | $696 | 6.38% | $10,920 |
| 11:Q2 | $785 | $694 | 5.92% | $11,720 |
| 11:Q3 | $790 | $693 | 5.95% | $11,650 |
| 11:Q4 | $825 | $704 | 6.11% | $11,530 |
| 12:Q1 | $782 | $679 | 5.94% | $11,430 |
| 12:Q2 | $791 | $672 | 5.91% | $11,380 |
| 12:Q3 | $796 | $674 | 5.96% | $11,310 |
| 12:Q4 | $829 | $679 | 5.99% | $11,340 |
| 13:Q1 | $789 | $660 | 5.88% | $11,230 |
| 13:Q2 | $799 | $668 | 5.99% | $11,150 |
| 13:Q3 | $804 | $672 | 5.96% | $11,280 |
| 13:Q4 | $841 | $683 | 5.93% | $11,521 |
| 14:Q1 | $802 | $659 | 5.66% | $11,650 |
| 14:Q2 | $823 | $669 | 5.75% | $11,632 |
| 14:Q3 | $834 | $680 | 5.81% | $11,710 |
| 14:Q4 | $874 | $700 | 5.92% | $11,830 |
| 15:Q1 | $833 | $684 | 5.77% | $11,850 |
| 15:Q2 | $858 | $703 | 5.93% | $11,850 |
| 15:Q3 | $873 | $714 | 5.92% | $12,065 |
| 15:Q4 | $919 | $733 | 6.05% | $12,116 |
| 16:Q1 | $885 | $712 | 5.81% | $12,252 |
| 16:Q2 | $912 | $729 | 5.93% | $12,287 |
| 16:Q3 | $927 | $747 | 6.05% | $12,350 |
| 16:Q4 | $979 | $779 | 6.19% | $12,576 |
Quarterly Average Household U.S. Revolving Consumer Debt — Not Seasonally Adjusted
| Year | Per Household | Total Revolving Debt (In Billions) |
|---|---|---|
| 99:Q1 | $5,519 | $567.75 |
| 99:Q2 | $5,631 | $581.15 |
| 99:Q3 | $5,718 | $592.05 |
| 99:Q4 | $5,920 | $614.92 |
| 00:Q1 | $5,808 | $604.48 |
| 00:Q2 | $5,985 | $624.21 |
| 00:Q3 | $6,170 | $644.75 |
| 00:Q4 | $6,573 | $688.20 |
| 01:Q1 | $6,443 | $680.29 |
| 01:Q2 | $6,527 | $694.85 |
| 01:Q3 | $6,437 | $690.93 |
| 01:Q4 | $6,657 | $720.39 |
| 02:Q1 | $6,427 | $697.24 |
| 02:Q2 | $6,571 | $714.63 |
| 02:Q3 | $6,664 | $726.57 |
| 02:Q4 | $6,923 | $756.68 |
| 03:Q1 | $6,700 | $735.63 |
| 03:Q2 | $6,747 | $744.15 |
| 03:Q3 | $6,765 | $749.41 |
| 03:Q4 | $6,961 | $774.58 |
| 04:Q1 | $6,758 | $753.22 |
| 04:Q2 | $6,797 | $758.83 |
| 04:Q3 | $6,948 | $776.87 |
| 04:Q4 | $7,214 | $807.93 |
| 05:Q1 | $6,926 | $778.02 |
| 05:Q2 | $7,027 | $791.71 |
| 05:Q3 | $7,100 | $802.32 |
| 05:Q4 | $7,407 | $839.55 |
| 06:Q1 | $7,260 | $824.75 |
| 06:Q2 | $7,395 | $842.03 |
| 06:Q3 | $7,527 | $858.97 |
| 06:Q4 | $7,915 | $905.40 |
| 07:Q1 | $7,622 | $874.89 |
| 07:Q2 | $7,797 | $898.19 |
| 07:Q3 | $8,022 | $927.37 |
| 07:Q4 | $8,463 | $981.84 |
| 08:Q1 | $8,204 | $953.39 |
| 08:Q2 | $8,280 | $963.78 |
| 08:Q3 | $8,264 | $963.53 |
| 08:Q4 | $8,427 | $984.16 |
| 09:Q1 | $7,887 | $921.83 |
| 09:Q2 | $7,771 | $909.04 |
| 09:Q3 | $7,673 | $898.37 |
| 09:Q4 | $7,663 | $897.98 |
| 10:Q1 | $7,142 | $837.57 |
| 10:Q2 | $7,026 | $824.56 |
| 10:Q3 | $6,920 | $812.75 |
| 10:Q4 | $6,999 | $822.65 |
| 11:Q1 | $6,646 | $776.57 |
| 11:Q2 | $6,758 | $784.99 |
| 11:Q3 | $6,843 | $790.11 |
| 11:Q4 | $7,186 | $824.70 |
| 12:Q1 | $6,807 | $781.94 |
| 12:Q2 | $6,882 | $791.34 |
| 12:Q3 | $6,919 | $796.47 |
| 12:Q4 | $7,193 | $828.82 |
| 13:Q1 | $6,841 | $788.91 |
| 13:Q2 | $6,921 | $798.83 |
| 13:Q3 | $6,964 | $804.42 |
| 13:Q4 | $7,270 | $840.54 |
| 14:Q1 | $6,929 | $801.84 |
| 14:Q2 | $7,109 | $823.44 |
| 14:Q3 | $7,192 | $833.81 |
| 14:Q4 | $7,529 | $873.69 |
| 15:Q1 | $7,168 | $832.53 |
| 15:Q2 | $7,383 | $858.21 |
| 15:Q3 | $7,508 | $873.49 |
| 15:Q4 | $7,893 | $919.12 |
| 16:Q1 | $7,590 | $884.60 |
| 16:Q2 | $7,817 | $911.85 |
| 16:Q3 | $7,941 | $927.15 |
| 16:Q4 | $0.78 | $2.57 |
Available Credit and Credit Lines (in Trillions)
| Year & Quarter | Credit Card Balance | Credit Card Available Credit | Credit Card Limit |
|---|---|---|---|
| 99:Q1 | $0.48 | $1.05 | $1.53 |
| 99:Q2 | $0.49 | $0.90 | $1.38 |
| 99:Q3 | $0.50 | $1.22 | $1.71 |
| 99:Q4 | $0.51 | $1.25 | $1.75 |
| 00:Q1 | $0.52 | $1.27 | $1.79 |
| 00:Q2 | $0.54 | $1.32 | $1.86 |
| 00:Q3 | $0.53 | $1.41 | $1.94 |
| 00:Q4 | $0.58 | $1.57 | $2.15 |
| 01:Q1 | $0.60 | $1.63 | $2.23 |
| 01:Q2 | $0.61 | $1.54 | $2.15 |
| 01:Q3 | $0.63 | $1.58 | $2.21 |
| 01:Q4 | $0.64 | $1.67 | $2.31 |
| 02:Q1 | $0.63 | $1.68 | $2.31 |
| 02:Q2 | $0.66 | $1.78 | $2.44 |
| 02:Q3 | $0.68 | $1.81 | $2.49 |
| 02:Q4 | $0.69 | $1.86 | $2.55 |
| 03:Q1 | $0.69 | $1.86 | $2.55 |
| 03:Q2 | $0.69 | $1.87 | $2.56 |
| 03:Q3 | $0.69 | $1.86 | $2.55 |
| 03:Q4 | $0.70 | $1.87 | $2.57 |
| 04:Q1 | $0.70 | $1.88 | $2.57 |
| 04:Q2 | $0.70 | $1.90 | $2.60 |
| 04:Q3 | $0.71 | $1.89 | $2.60 |
| 04:Q4 | $0.72 | $2.14 | $2.86 |
| 05:Q1 | $0.71 | $2.18 | $2.89 |
| 05:Q2 | $0.72 | $2.25 | $2.97 |
| 05:Q3 | $0.73 | $2.33 | $3.06 |
| 05:Q4 | $0.74 | $2.35 | $3.09 |
| 06:Q1 | $0.72 | $2.40 | $3.12 |
| 06:Q2 | $0.74 | $2.41 | $3.15 |
| 06:Q3 | $0.75 | $2.38 | $3.13 |
| 06:Q4 | $0.77 | $2.29 | $3.06 |
| 07:Q1 | $0.76 | $2.29 | $3.05 |
| 07:Q2 | $0.80 | $2.52 | $3.32 |
| 07:Q3 | $0.82 | $2.57 | $3.39 |
| 07:Q4 | $0.84 | $2.62 | $3.46 |
| 08:Q1 | $0.84 | $2.58 | $3.42 |
| 08:Q2 | $0.85 | $2.82 | $3.67 |
| 08:Q3 | $0.86 | $2.84 | $3.70 |
| 08:Q4 | $0.87 | $2.66 | $3.53 |
| 09:Q1 | $0.84 | $2.43 | $3.27 |
| 09:Q2 | $0.82 | $2.22 | $3.04 |
| 09:Q3 | $0.81 | $2.12 | $2.93 |
| 09:Q4 | $0.80 | $2.07 | $2.87 |
| 10:Q1 | $0.76 | $2.00 | $2.76 |
| 10:Q2 | $0.74 | $1.95 | $2.70 |
| 10:Q3 | $0.73 | $1.95 | $2.68 |
| 10:Q4 | $0.73 | $1.93 | $2.66 |
| 11:Q1 | $0.70 | $2.00 | $2.69 |
| 11:Q2 | $0.60 | $2.00 | $2.77 |
| 11:Q3 | $0.69 | $2.02 | $2.72 |
| 11:Q4 | $0.70 | $2.11 | $2.82 |
| 12:Q1 | $0.68 | $2.13 | $2.81 |
| 12:Q2 | $0.67 | $2.12 | $2.79 |
| 12:Q3 | $0.67 | $2.11 | $2.78 |
| 12:Q4 | $0.68 | $2.09 | $2.77 |
| 13:Q1 | $0.66 | $2.11 | $2.77 |
| 13:Q2 | $0.67 | $2.13 | $2.80 |
| 13:Q3 | $0.67 | $2.16 | $2.84 |
| 13:Q4 | $0.68 | $2.22 | $2.91 |
| 14:Q1 | $0.66 | $2.25 | $2.91 |
| 14:Q2 | $0.67 | $2.27 | $2.94 |
| 14:Q3 | $0.68 | $2.29 | $2.97 |
| 14:Q4 | $0.70 | $2.29 | $2.99 |
| 15:Q1 | $0.68 | $2.33 | $3.02 |
| 15:Q2 | $0.70 | $2.36 | $3.06 |
| 15:Q3 | $0.71 | $2.39 | $3.11 |
| 15:Q4 | $0.73 | $2.39 | $3.13 |
| 16:Q1 | $0.71 | $2.48 | $3.19 |
| 16:Q2 | $0.73 | $2.49 | $3.22 |
| 16:Q3 | $0.75 | $2.52 | $3.27 |
| 16:Q4 | $0.78 | $2.57 | $3.35 |
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