Usage Statistics

Credit Card Usage Statistics In America

Varied credit card usage statistics show that most of the people at least own one credit card. According to America's credit card usage statistics, 7 in 10 who owns their credit card do not know their credit card's interest rate. This credit card usage statistic also indicated that 34% of the Americans were like this. 44% of the people who are above 55 are most likely in this list and do not know their credit cards' interest rate. An average interest rate stated as per the survey is 12.7%.

Another credit card usage statistics in America reported that the reasons for the rise in debt is due to 26% of the people are living beyond their means, that nearly 17% of the credit cards are very easily obtained by the subscribers and lastly, that around 17% of the incomes are not in sync with their expenses.

Ever since the 1980's, credit card usage in India has been a total craze, what with more and more people opting out for this kind of payment. According to the credit card usage statistics in India, there was an increase in the number of credit cards issued in nearly 42 banks, that is from 2.60 crores to 4.33 crores at the end of December. This also states that the credit card usage has a greater acceptance in all the major cities of the country.

In America, the credit card usage statistics reveal that, 1% of the graduate student have no credit history. Nearly 4 to 5% of graduate students have a credit history, but they do not own credit cards. Some credit card usage statistics revealed that 95 to 97% of the students with a credit history had their own credit cards. Among these 95 to 97% of the students, each one on an average owned 4 credit cards. Nearly 25% of the American had $4,770 as an average credit card debt and 20% of the people had $6,000 to $ 15,000 credit card debt. Another credit card usage statistics reveals that, for about 6 to 8% of the people have the credit card debts higher than $15,000.

The credit card usage statistics from an university in America reports that, 12% of the under graduate students had no credit card history whatsoever, 10% of the students had credit history but they did not own any credit cards and nearly 78% of the under graduate student had a credit history as well as own their own credit cards. Among these students, 38% had more than 4 credit cards with $2748 as an average of credit card debts. This credit card usage statistic also showed that 13% of the students had $3,000 to $7,000 credit card debt and nearly 9% of the students had a credit card debt higher than $7000.

The colleges' credit card usage statistics reports that 5.8% of receivables on National average charge off rates and 2.18% of receivables on UCMS charge off average rates. Nearly 55% of the under graduate students are paying 100% of their bill and have zero balance and around 17 to 20% of the students carry on their expenses with their parent's credit cards.