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Median Credit Card Debt

Definition
Median amount of revolving debt per borrower, 2008.

Description
Revolving debt includes debt from credit cards, private label cards and lines of credit. When borrowers utilize a high percentage of the revolving credit available to them, it can have a negative impact on their credit score, which in turn makes it difficult to qualify for other types of affordable credit. Too much revolving debt drains wealth and negatively affects a household's ability to build assets.

Credit card debt as reported in the 2009-2010 Assets & Opportunity Scorecard is for individual borrowers rather than for households or families (which may contain two or more individuals with credit cards).

Source
Trend Analysis Data. (2008, Quarter 3). TransUnion.