Credit card debt drops to lowest level in 8 years

Posted on August 26, 2010. Filed under: Uncategorized |

By EILEEN AJ CONNELLY AP Personal Finance Writer

NEW YORK (AP) – The amount consumers owed on their credit cards in this year’s second quarter dropped to the lowest level in more than eight years as cardholders continued to pay off balances in the uncertain economy.

The average combined debt for bank-issued credit cards – like those with a MasterCard or Visa logo – fell to $4,951 in the three months ended June 30, down more than 13 percent from $5,719 in the same period a year ago, according to TransUnion.

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John Rogers, Kentucky Bankruptcy Attorney

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One Response to “Credit card debt drops to lowest level in 8 years”

RSS Feed for Kentucky Bankruptcy Attorney – Call Toll Free Today 1-888-651-9353 or 270-651-7777 Comments RSS Feed

Here is a new peppy 1-minute video giving people advice on the responsible use of debit, ATM and credit cards.

“Card Tricks Revealed: How Not To Burn Money”


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