November 4, 2014

Credit Card Debt Levels 1989 to 2013

Here's a bright side in the Survey of Consumer Finances from 2013:   Credit card debt levels are down and fewer families hold credit card debt.

 Here's a chart showing the percent of households that have credit card debt and the mean debt for families with credit card debt:

(click image for full size)
I got the figures from Table 13 out of the SCF historic tables.

Here's a table of the figures I pulled from the SCF :



% with debt mean debt
1989 39.70%  $   1,800
1992 43.70%  $   2,300
1995 47.30%  $   3,000
1998 44.10%  $   4,100
2001 44.40%  $   4,100
2004 46.20%  $   5,100
2007 46.10%  $   7,300
2010 39.40%  $   7,100
2013 38.10%  $   5,700

So in the 3 hears from 2010 to 2013 the average debt dropped $1400 and 1.3% fewer families  have any credit card debts.   Good job America.


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