Amount of U.S. Revolving Consumer Debt — Not Seasonally Adjusted:
| Year | Total (In Billions) | Per Household |
|---|---|---|
| 2012 (as of Q2) |
$799.50 | $6,693 |
| 2011 | $834.40 | $7,042 |
| 2010 | $833.10 | $7,088 |
| 2009 | $903.40 | $7,709 |
| 2008 |
$990.10 | $8,478 |
| 2007 | $973.20 | $8,389 |
| 2006 |
$900.20 | $7,870 |
| 2005 |
$856.70 | $7,558 |
| 2004 |
$799.80 | $7,141 |
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 $16,649.
- Regions with highest average debt: Pacific – $20,175; New England – $19,352
- Region with lowest average debt: East South Central – $13,002
The large amount of debt in New England coincides with an average credit score of 712, 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 Pacific where the average amount of debt is higher than any other region and the average credit score is 694.
(Source: Experian National Score Index, June 2011)
A growing share of consumers’ disposable income, which largely determines consumer spending, is being diverted to service credit card debt. As of March 2009, U.S. revolving consumer debt (almost entirely credit card debt) was about $950 Billion. In the fourth quarter of 2008, 13.9 percent of consumer disposable income went to service this debt.
(Source: U.S. Congress Joint Economic Committee)
Total Credit Card Debt Balance in (Trillions):
| Year & Quater | Credit Card Debt Balance |
|---|---|
| 99:Q1 | 0.48 |
| 99:Q2 | 0.48 |
| 99:Q3 | 0.50 |
| 99:Q4 | 0.50 |
| 00:Q1 | 0.52 |
| 00:Q2 | 0.54 |
| 00:Q3 | 0.53 |
| 00:Q4 | 0.58 |
| 01:Q1 | 0.60 |
| 01:Q2 | 0.61 |
| 01:Q3 | 0.63 |
| 01:Q4 | 0.64 |
| 02:Q1 | 0.63 |
| 02:Q2 | 0.66 |
| 02:Q3 | 0.68 |
| 02:Q4 | 0.69 |
| 03:Q1 | 0.69 |
| 03:Q2 | 0.69 |
| 03:Q3 | 0.69 |
| 03:Q4 | 0.70 |
| 04:Q1 | 0.70 |
| 04:Q2 | 0.70 |
| 04:Q3 | 0.71 |
| 04:Q4 | 0.72 |
| 05:Q1 | 0.71 |
| 05:Q2 | 0.72 |
| 05:Q3 | 0.73 |
| 05:Q4 | 0.74 |
| 06:Q1 | 0.72 |
| 06:Q2 | 0.74 |
| 06:Q3 | 0.75 |
| 06:Q4 | 0.77 |
| 07:Q1 | 0.76 |
| 07:Q2 | 0.80 |
| 07:Q3 | 0.82 |
| 07:Q4 | 0.84 |
| 08:Q1 | 0.84 |
| 08:Q2 | 0.85 |
| 08:Q3 | 0.86 |
| 08:Q4 | 0.87 |
| 09:Q1 | 0.84 |
| 09:Q2 | 0.82 |
| 09:Q3 | 0.81 |
| 09:Q4 | 0.80 |
| 10:Q1 | 0.76 |
| 10:Q2 | 0.74 |
| 10:Q3 | 0.73 |
| 10:Q4 | 0.73 |
| 11:Q1 | 0.70 |
| 11:Q2 | 0.694 |
| 11:Q3 | 0.693 |
| 11:Q4 | 0.704 |
