NEW YORK—U.S. consumers’ total outstanding balance on revolving credit, largely credit card debt, is over $1.03 trillion.
But who claims the biggest share?
A new report from ValuePenguin indicates that the low and high income segments are responsible for the majority of the balances.
The average credit card debt for households with zero or negative net worth is $10,307, the report shows. On the other end of the economic spectrum, households with net worth above $500,000 carry the second-highest average credit card debt at $8,139.