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Released: August 26, 2010
U.S. credit card debt drops to 8 year low
Source: Eileen Aj Connelly, USA Today
The amount consumers owed on their credit cards in this year’s second quarter dropped to the lowest level in more than eight years as cardholders continued to pay off balances in the uncertain economy.
The average combined debt for bank-issued credit cards — such as those with a MasterCard or Visa logo — fell to $4,951 the three months ended June 30, down more than 13% from $5,719 in the period a year ago, according to credit reporting agency TransUnion.
Read Full Article: U.S. credit card debt drops to 8 year low
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