Survey Shows Americans Paring Down Credit Card Debt

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003602-survey-shows-americans-paring-down-credit/

According to the annual Credit Card Survey conducted by Myvesta, a nonprofit consumer education organization, the average amount of credit card debt carried by individuals has declined by 11.4 percent. The average American is now carrying $2,328 in credit card debt, down from $2,627 in 2004. Individuals also haven’t added any new credit cards to their wallets in the past year. Americans still hold an average of 2.9 cards each, the same as in 2004.

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