The Confabulation Thread - Part 2
- Thread starter KevinL
- Start date
American Consumers
The number of U.S households receiving a credit card offer each month increased to 71% in 2004, up from 69% in 2003
The average savings rate in the U.S. was a negative 1% in 2005, the lowest level since the great depression
Total American consumer debt reached $2.2 trillion in 2005
Total American consumer debt first reached $1 trillion in 1994
Total revolving debt reached $876 billion in 2006
Total American household consumer debt averaged $11,840 in 2005
Total American consumer debt increased 41% between 1998 and 2004
The average American household had over $7,000 in revolving debt in 2005
Average household credit card debt has increased 167% between 1990 and 2004
The average balance per open credit card was $4,617 in 2004
American households spent $412 billion in credit card charges in 2004
Revolving debt has increased 31% between 1999 and 2004
The average American had over seven payment cards in their wallet including credit card, retail store cards and bank debit cards in 2005
The average interest rate paid on credit cards was approximately 14.54% in 2005
Average household interest payments were $1,164 in 2004
The rate of personal savings in the United States dipped below 0% for the first time since the great depression in 2005, hitting negative .5%
Over 60% of Americans revolved a balance on their credit cards in 2005
Approximately 51 million households carried consumer debt in 2005
Approximately 23 million households made only minimum payments in 2005
Approximately 40% of credit card users paid their balance in full each month in 2006
Approximately 96% of Americans will have to retire financially dependent on the government, family or charity, according to a 2003 study
In 2004 the consumer debt to net worth ratio was 21%, the highest rate in 55 years
The ratio of consumer minimum payments to disposable income was 13.10% in 2004
The average household had $30,000 in unused credit lines in 2004
The credit card industry default rate (percentage of cardholders who don?t pay back what they owe) averaged approximately 5% in 2004
A typical credit card purchase is 12%-18% more than if cash was used (as of 2004)
As of 2004, 23% of Americans admitted to maxing out a credit card
As of 2004, 13% of Americans had been 30 days late paying credit card bills at least once in the last 12 months
As of 2004, 76% of Americans had at least one credit card
2.39 million U.S. households filed for bankruptcy in 2005, a 12.8% increase over 2004
The average credit card balance in 2005 would require over 13 years to pay off if only making minimum payments of 4% at an average interest rate of 14%
5% of Americans used a credit card to make their tax payment in 2004
30 million Americans, (40% of homeowners) refinanced their mortgages during the 3 years prior to Q3 2005, with over half applying the proceeds to eliminate credit card debt
Among middle class households, the average amount of credit card debt paid off with home equity loans was $12,000 (Q3 2005).
Seven out of 10 low- and middle-income households reported using their credit cards as a financial safety net, i.e. to pay for car repairs, rent or housing repairs and medical expenses, rather than relying on savings in 2005
According to a national survey, the most significant predictor of financial stress is if households rely on using credit cards to cover non-discretionary living expenses like rent, groceries and medical expenses (Q3 2005)
As of 2004, the number one cause of divorce is financial stress
Students
In 2004, 83% of undergraduate college students had at least one credit card in their name with an average outstanding balance of over $2,300
32% of students had 4 or more credit cards in 2004
As of 2004, the average graduate student had six credit cards and one in seven owes more than $15,000
In 2004, the average college student graduated with $16,500 in student loans, up 74% since 1997
In 2005, 65% of teens failed a financial literacy test according to the Jump$tart Coalition
Teens in the U.S. spent $175 billion in 2004
Seniors
Don't know how accurate any of these stats ever are, but fun to read.
In 2004, the average debt for Americans 65 and older was $4,000, up 89% in the past decade
In 2004, the average personal wealth of a 50 year old American was less than $40,000 including home equity
In 2004, most credit card debt of older Americans was driven by healthcare expenses and the increased cost of prescription medication
Identity Theft
Approximately 9.2 million Americans reported loss of credit card information in 2004
According to the Federal Trade Commission 42% of identity theft cases involved credit card fraud in 2004
According to a 2004 study, identity theft required an average of 600 hours of a victim?s personal time to remedy
The number of U.S households receiving a credit card offer each month increased to 71% in 2004, up from 69% in 2003
The average savings rate in the U.S. was a negative 1% in 2005, the lowest level since the great depression
Total American consumer debt reached $2.2 trillion in 2005
Total American consumer debt first reached $1 trillion in 1994
Total revolving debt reached $876 billion in 2006
Total American household consumer debt averaged $11,840 in 2005
Total American consumer debt increased 41% between 1998 and 2004
The average American household had over $7,000 in revolving debt in 2005
Average household credit card debt has increased 167% between 1990 and 2004
The average balance per open credit card was $4,617 in 2004
American households spent $412 billion in credit card charges in 2004
Revolving debt has increased 31% between 1999 and 2004
The average American had over seven payment cards in their wallet including credit card, retail store cards and bank debit cards in 2005
The average interest rate paid on credit cards was approximately 14.54% in 2005
Average household interest payments were $1,164 in 2004
The rate of personal savings in the United States dipped below 0% for the first time since the great depression in 2005, hitting negative .5%
Over 60% of Americans revolved a balance on their credit cards in 2005
Approximately 51 million households carried consumer debt in 2005
Approximately 23 million households made only minimum payments in 2005
Approximately 40% of credit card users paid their balance in full each month in 2006
Approximately 96% of Americans will have to retire financially dependent on the government, family or charity, according to a 2003 study
In 2004 the consumer debt to net worth ratio was 21%, the highest rate in 55 years
The ratio of consumer minimum payments to disposable income was 13.10% in 2004
The average household had $30,000 in unused credit lines in 2004
The credit card industry default rate (percentage of cardholders who don?t pay back what they owe) averaged approximately 5% in 2004
A typical credit card purchase is 12%-18% more than if cash was used (as of 2004)
As of 2004, 23% of Americans admitted to maxing out a credit card
As of 2004, 13% of Americans had been 30 days late paying credit card bills at least once in the last 12 months
As of 2004, 76% of Americans had at least one credit card
2.39 million U.S. households filed for bankruptcy in 2005, a 12.8% increase over 2004
The average credit card balance in 2005 would require over 13 years to pay off if only making minimum payments of 4% at an average interest rate of 14%
5% of Americans used a credit card to make their tax payment in 2004
30 million Americans, (40% of homeowners) refinanced their mortgages during the 3 years prior to Q3 2005, with over half applying the proceeds to eliminate credit card debt
Among middle class households, the average amount of credit card debt paid off with home equity loans was $12,000 (Q3 2005).
Seven out of 10 low- and middle-income households reported using their credit cards as a financial safety net, i.e. to pay for car repairs, rent or housing repairs and medical expenses, rather than relying on savings in 2005
According to a national survey, the most significant predictor of financial stress is if households rely on using credit cards to cover non-discretionary living expenses like rent, groceries and medical expenses (Q3 2005)
As of 2004, the number one cause of divorce is financial stress
Students
In 2004, 83% of undergraduate college students had at least one credit card in their name with an average outstanding balance of over $2,300
32% of students had 4 or more credit cards in 2004
As of 2004, the average graduate student had six credit cards and one in seven owes more than $15,000
In 2004, the average college student graduated with $16,500 in student loans, up 74% since 1997
In 2005, 65% of teens failed a financial literacy test according to the Jump$tart Coalition
Teens in the U.S. spent $175 billion in 2004
Seniors
Don't know how accurate any of these stats ever are, but fun to read.
In 2004, the average debt for Americans 65 and older was $4,000, up 89% in the past decade
In 2004, the average personal wealth of a 50 year old American was less than $40,000 including home equity
In 2004, most credit card debt of older Americans was driven by healthcare expenses and the increased cost of prescription medication
Identity Theft
Approximately 9.2 million Americans reported loss of credit card information in 2004
According to the Federal Trade Commission 42% of identity theft cases involved credit card fraud in 2004
According to a 2004 study, identity theft required an average of 600 hours of a victim?s personal time to remedy
I only have about a 2100 balance on credit cards. Why I don't just pay it off is beyond me.
I don't know what my total available limit is on credit cards, alot more than their 30,000 average they list.
If I find out I'm dying I'll blow those cards up
I don't know what my total available limit is on credit cards, alot more than their 30,000 average they list.
If I find out I'm dying I'll blow those cards up
:lol:
Well in a country has to be insane it might as well be the one with the largest active arsenal of nuclear weapons :D
:huh:
how do you build your credit rating
doesn't sound found :Dif you refuse to get a credit card then you must be responsible with money.
if i was god i would take all of america's toys and tell bush and his associates to have a time out in the corner.
but we like our nukes
we're just itching to blow one of
:lol::mellow: are there any women in your country at all? just that that sounds very... male.
you just moved australia from 26 to 22 on our "To Nuke" list
This is what happens when our females go out shopping, we begin planning world domination
You sound like you been hangin around with a buncha **** rednecks.
2:30!!!!!!!! **** that ****!!
Its only 7 here and Im tired. I was supposed to be back to work by now but they still havent found what is wrong with me...
I want work back.
Its only 7 here and Im tired. I was supposed to be back to work by now but they still havent found what is wrong with me...
I want work back.
