Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says.
Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says.
Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported.
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Average consumer
Average US consumer.
Also feel free to add public debt per capita into this - it will be paid from the future taxes after all
Yeah there's absolutely a bunch of rich people carrying over 50k credit card debt they don't even care about that are throwing this off
Thats not how this works…
That is indeed how averages work. For example I commonly have 10k worth of credit card "debt" which is just stuff my company reimburses me for and will be paid in full on the due date. I'm skewing this average because in reality I have no debt.
There's more than one kind of average.