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How Much Credit Card Debt Are We In?

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How Much Credit Card Debt Are We In?

In a Google consumer survey conducted by, respondents reported varying degrees of credit card debt. In this survey of 1,500 people, over half reported having no credit card debt with fewer people reporting higher levels of debt than lower ones.

Those without debt

53% of the respondents reported that they have no credit card debt. This is because 28% reported not having a credit card, while 27% said that they always pay their balances in full each month. For these people, the cost of paying credit card interest is not part of their monthly budget. Among those surveyed age 65 an older, nearly 70% fell into that category. While the numbers were lower among middle aged recipients, the 18-24 age bracket also produced about the same number of people who don’t pay credit card interest.

Those with debt

Among all respondents, 18% said that they had less than a year worth of debt, 12% had 1-3 years worth of debt, and 15% had more than three years of debt. Of course, as a self reported figure, it is highly likely that these respondents are either being optimistic about their debt levels or simply unwilling or unable to actually pay off their credit card debt. Otherwise, we would expect to see the 23% of people who report three years or less worth of debt actually paying it off over the next three years, a very unlikely event.

Other Notable Trends

Women were much more likely to report not having a credit card (32% – 26%) while men with a card were more likely to say that they pay their balance in full each month (28% – 25%). Yet the most noticeable trends were among those of different income groups. Surprisingly, among those who reported an income of between $100,000 and $150,000, over 42% reported having no credit cards. Within that same income group, only 20% reported paying their bills in full each month. In contrast, among those with incomes between $50,000 and $100,000 per year, 34% reported paying their balance in full each month. Among those that reported taking more than three years to pay off their balance, those who earn less than $25,000 per year led the way at 21%.

Credit card debt is a very difficult thing to deal with, but fortunately more Americans are carrying less debt than ever before. By taking a closer look at how much debt we are in, we can better understand this problem and work towards finding new solutions.

To review the Consumer Survey in more detail, please see


Editor's Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Citi or any of the other companies whose products are featured in this content.

About the author

Jeffrey Weber

Jeffrey Weber has been following and blogging about the credit card industry since 2004. He has also written for Forbes and been cited in a wide range of major media outlets including USA Today, Time, MSN Money, The Christian Science Monitor, The Detroit Free Press and numerous other prestigious online and print publications.

Jeffrey resides in Easton, Connecticut and enjoys spending his free time chasing after his two year old son, watching films with his wife and occasionally taking a holiday to go snorkeling.

– has written 46 posts.

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