How much credit card debt does the average person have?
According to 2016 NerdWallet statistics, the average American household carries $16,061 in credit card debt..
How much does the average American owe in credit card debt?
On average, Americans owe $6,354 on bank-issued credit cards. At the state level, average credit card debt per capita varies substantially.
How much credit card debt is too much?
But ideally you should never spend more than 10% of your take-home pay towards credit card debt. So, for example, if you take home $2,500 a month, you should never pay more than $250 a month towards your credit card bills.
What is a bad amount of credit card debt?
It’s bad to find yourself in a situation where what you are required to pay per month for your credit cards is in excess of 10% of your average monthly income, e.g. having a minimum of $400 when you make $4,000 on average a month.