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Average Credit Card Consumer Is Carrying More Than $6,000 In Debt

Last updated on Wednesday, May 2, 2018

(UNDATED) - As debt rates across America are at an all time high, and student debt keeps scaling.

Nearly half of consumers say they've never received education on credit cards. The average consumer with credit card debt is carrying more than $6,000 of it. And about one-third of millennials are being held back from buying homes because of credit card debt.

On the bright side, though, consumers are far more likely to get a new card to improve their credit scores (42% of consumers) than to acquire more debt after maxing out their other cards (8%). Also, 62% of consumers have more savings than credit card debt.

That's according to a Google Survey of 2,500 U.S. consumers, conducted between April 11 and April 13, 2018.

Credit Cards Explained, a personal finance site, recently conducted a survey to more than 2,500 consumers to dig into credit card and debt trends across America.

The 2018 U.S. Credit Card and Debt Study found that 47% of Indiana consumers never received a proper education on credit cards, and revealed the main reasons why consumers struggle with credit card debt.

Indiana Trends - U.S. Credit Card & Debt Study

The full report dives into credit card habits, debt trends and more: U.S. Credit Card and Debt Study 2018

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