Skip to main content
No. of Recommendations: 0

It is an interesting topic because we all hear how average household credit card debt has risen over the years. My contention is this problem is blown completely out of proportion, because many people today actually put all of their expenses on their cards (either for airline miles or cash back) and like me actually pay it back every month.


Does anyone out there know the percentages of people who actually fully pay off their credit cards each month?

I do agree with you - the average credit card debt number is misleading for a lot reasons. However, I'm not so sure many people with credit cards is inclined to pay it off each month.

My curosity comes from the fact that other than the folks on the Fool, I'm the only person I know who consistantly pays off their credit card each month. My Dad comes a close second, but he'll occasionally not pay a credit card in full even though he has money in the bank because it's "too painful." (Meaning he's just put some planned big bills on it and doesn't want drain his savings.)

In the article you sited, I belive most people had a balance of less than $2000. I'd also be curious to find out what the relative income level of those folks are. When your annual income is low, that $2000 can be a pretty big burden.

JustSilly
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.