Credit Card Statistics

1
Credit Card Statistics

• Farm Business Management
• Mr. Gardner
• Junction City High School
• http//www.consumercredit.com/cardstats.htm

2
Average American Household

• Has at least one credit card.
• With Over 8,000 in credit card debt.
• 81 of Households have at least one.
• 78 U.S. households deemed "credit worthy" by
  the lending industry.

3
Average Purchase

• Average Purchase with Credit Card 82.00.
• It is on the Rise.
• Average VISA Debit Card (FAKE CC) Purchase
  38.00
• It is on the Decline. Slight.

4
Average Credit Balance

• In 2002 8,387
• This is the Average that means some more and some
  less.
• Average Interest Rate 18.9.
• 4th 1/4 Outstandings dept to 18,952,600,000

5
CC Payment or Investing

• Credit card payment of 218
• Instead you invested that 218 in a 12 savings
  plan,
• Retire in 25 years with 1,354,930 saved.
• Your credit card payment is not only costing you
  thousands in interest, but is prohibiting you
  from saving for your retirement.

6
Total Credit Debt

• 1st Qtr. 2002 660 billion spent using credit
  cards.
• 660,000,000,000.00
• Total Credit Card Debt was approximately 60
  billion.
• 50 billion total finance charges paid in 2001.
• Size of ATT -- the entire corporation is 1.6
  billion

7
Average American Household

• 7 to 10 Credit Cards 2002.
• 7 cards in 2001
• 6.2 cards in 2000
• 4.21 cards in 1999
• Average Interest Rate 18.9.
• VISA 2000 credit survey
• "48 of credit card owners only pay their minimum
  monthly payment"

8
Credit Temptation

• Being solicited an Average of Seven (7) times per
  year by credit card companies.
• Regardless of their credit histories
• solicitations dropping
• 2.2 billion first 1/2 of 2001.
• 1.6 billion first 1/2 of 2002.

9
Credit Temptation

• 150 to 200 million credit cards are issued
  annually in North America since 2000.
• 500 million bank credit cards in North America.
• 700 million retail credit cards in North America.
  
• 1.2 billion credit retail cards in North
  America.