• DebtKO

New Report: How Credit Card Debt Impacts the Average American



At DebtKO, we help our customers get out of credit card debt.

But when credit cards are a vital part of building credit and proving creditworthiness when buying a home, 2019 could be a tough year for Americans with credit card debt, as reported in a new report by Clever Real Estate.

Key Findings

  • Credit card debt ranks as the most stressful type of debt for Americans

  • Almost half of credit card users (47%) carry a balance from month to month, and 72% of credit card debt holders carry more than $1,000 in monthly balance

  • Only 30% of Americans with credit card debt believe they’ll be able to pay it off within a year, leading low-income households to become trapped in debt cycles

  • Millennials might be the most financially responsible generation in terms of credit card usage, but they have a lot to learn. Only 50% of millennials know that credit card interest rates are higher than mortgage interest rates

  • 46% of Americans don’t trust credit card companies, and consumer complaints are on the rise

Read the full report here

#Creditcarddebt #americandebt #FICo #debtrelief

Contact us

  • Facebook Social Icon
  • Pinterest Social Icon
  • Instagram Social Icon

Telephone: +1 833 433 2856

Email: info@debtko.com

SMS: +1 562 444 6828

Mailing Address:

701 Pine Avenue #146 

Long Beach, CA 90813

 

Privacy policy

Terms of Use

Debtko is not a Finance Company, Law Firm, Debt Settlement or Debt Consolidation Company. Our Services include debt and credit evaluation for the purpose of advising our clients which services they may qualify for and connecting them with a 3rd party referral partner that may be able to help. Debtko is not responsible for the future outcome of any resulting relationship between a client and a 3rd party service provider. 

All Rights Reserved © DEBTKO LLC 2019