February 1st, 2013
Getting Tough on Holiday Credit Card Debt
**Today’s guest post is contributed by Angie.**
While the holidays have come and gone, many of us are still feeling the financial sting that is distinct to this most wonderful time of the year. Credit card debt is usually where most consumers have borne the brunt of the holiday weight (financially, at least—I’m sure nana’s cookies haven’t helped other areas either). But it’s important to know that if you are toting some major credit card debt that you are not alone. Here are some numbers from Credit Karma’s December 2012 data that may or may not shock you:
- Average credit card debt per consumer: $5,470
- Average number of credit cards per consumer: 5
- % of consumers with credit card debt: 83%
And this is an improvement from last year’s numbers:
- Average credit card debt per consumer: $6,576
- Average number of credit cards per consumer: 6
- % of consumers with credit card debt: 86%
Even though there was a drop in credit card debt over the last year, it still does not bode well for the average consumer. USA Today recently said that it takes the average person until May to pay off their holiday debt—nearly half of the next year! So how do you alleviate this debt? Well, you start getting tough with it.
