Credit Card Debt Drops to Lowest Level in 8 Years
More people are focused on paying down their consumer debt. The AP reports that the amount that consumers owed on credit cards in the second quarter “dropped to the lowest level in more than 8 years,” as consumers continue to pay off balances in this uncertain economy.
According to figures provided by TransUnion, the average combined debt for bank-issued credit cards dropped to just under $4,951 in the three months ended June 30 – that’s down more than 13 percent from $5,719 in the same period a year ago.
(Via YouTube.com)
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