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CREDIT CORNERSTONE WEEKLY CREDIT TRENDS AND
DATA INTELLIGENCE
Consumers are feeling the squeeze from holiday purchases
April 07, 2011
Though the holidays are over, some consumers still may be feeling the squeeze from their purchases. According to new data from Experian, the average person still owed more than $4,200 in bankcard debt at the end of 2010. The data also shows that the average number of bankcards consumers hold has dropped nearly 23 percent since 2007 to 1.97 cards. However, this has contributed to cardholders utilizing on average more than 30 percent of their total available bankcard balance, which is nearly a 10 percent jump since 2007.
To read more about this study and the 25 cities with the highest bankcard debt, please click here.
Source: Data for this study was derived from a statistically relevant
sampling of Experian's File OneSM consumer credit database
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