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Thread: Average American CC Debt $6,929 Revolving Balance

  1. #1
    Senior Member
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    Average American CC Debt $6,929 Revolving Balance

    According to Equifax, 48% of American households carry a credit card balance. In other words, they do not pay it down to zero on the due date every month. The average APR on credit card debt is 16.46%

    The average revolving credit card balance is $6,929... so the average cost of interest charges per year would be about $1,140 for those American households that carry a revolving balance.

    Data from December 2018.

    http://www.nerdwallet.com/blog/avera...debt-household

  2. #2
    Senior Member
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    It's good to be ZERO!

  3. #3
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    I'm also a zero.

  4. #4
    Senior Member CathyA's Avatar
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    Me too!

  5. #5
    Senior Member catherine's Avatar
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    This thread is reminding me of the old Dr. Pepper jingle:

    I pay down my balance and I'm proud
    I used to feel alone in the crowd
    But now I think these others are jerks
    Cuz being debt-free comes with perks!

    I'm a zero!
    You're a zero!
    He's a zero!
    She's a zero!
    Wouldn't you like to be a zero, too!

    Be a hero....take your debt to zero!
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  6. #6
    Moderator Float On's Avatar
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    Quote Originally Posted by catherine View Post
    This thread is reminding me of the old Dr. Pepper jingle:

    I pay down my balance and I'm proud
    I used to feel alone in the crowd
    But now I think these others are jerks
    Cuz being debt-free comes with perks!

    I'm a zero!
    You're a zero!
    He's a zero!
    She's a zero!
    Wouldn't you like to be a zero, too!

    Be a hero....take your debt to zero!

    When I helped run day camps at an inner city ministry center in Washington DC, the little girls with the jump ropes would chant:

    Visa, Mastercard
    Aaaamerican Express
    Ain't got nothin'
    'gainst them credit cards
    but the CASHHHH
    is the best!

    I'm hoping to pay off some "stupid tax" with my 2nd job this year.
    Float On: My "Happy Place" is on my little kayak in the coves of Table Rock Lake.

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