Payment Methods

PYMNTS Daily Data Dive: Credit Card Debt Levels

The latest figures about consumer borrowing shows one thing is clear: Consumers are getting comfortable taking on more debt.

For now, however, whether that is a good or bad thing isn’t quite known. Either way, credit card companies are seeing sales on credit cards surge, and revolving debt growing — which has also been attributed to banks and issuers pushing cards more and more.

So how do those figures break down? PYMNTS 5-in-1 Daily Data Dive shows just how mounting that credit card debt has become.

$1.02 Trillion | The number of outstanding credit card balances in July 2008.

$1 Trillion | How much outstanding credit card balances are expected to reach this year.

104 Million | The number of general purpose and store credit cards that lenders distributed in 2015.

47 percent | The percentage spike in general purpose and store credit cards issued in 2015, compared to 2010.

20 percent | The increase in the percentage consumers have spent on their credit cards during the first three months of 2016 compared to last year.

Click to comment

TRENDING RIGHT NOW