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Average Credit Card Debt Drops

August 29, 2010

According to Marc Valdez Weblog. the average consumer credit card debt load has dropped over the last quarter by about 13%. What this means is the average consumer debt owed on a Mastercard or Visa has dropped from$5719.00 last June to $4951.00 now. This is simply great for consumers as the economy tanks around them they are getting their financial houses in order and it will help them get through any further downturns in their own financial lives be it loss of jobs or lower hours at work. As many people are getting out of their high-priced mortgages and into cheaper rents this could be a place where some of that extra money is going to lower this debt load but that is just a guess on my part. People are just not wanting to live such an expensive lifestyle and pay for things now instead of in the future. Hopefully this trend continues.

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2 Comments
  1. trying to follow you on twitter but cant find your name

  2. yeah my dad will like this

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