{"id":2377753,"date":"2024-12-08T16:56:56","date_gmt":"2024-12-08T21:56:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-average-american-household-has-more-than-10000-in-credit-card-debt-washington-examiner\/"},"modified":"2024-12-08T16:58:52","modified_gmt":"2024-12-08T21:58:52","slug":"report-average-american-household-has-more-than-10000-in-credit-card-debt-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-average-american-household-has-more-than-10000-in-credit-card-debt-washington-examiner\/","title":{"rendered":"Report: Average American household has more than $10,000 in credit card debt &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-average-american-household-has-more-than-10000-in-credit-card-debt-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2377753&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The content discusses a report indicating that the average American household\u200d carries over $10,000 in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasa-worker-sentenced-to-18-months-in-prison-after-lying-to-govt-for-pandemic-benefits\/\" title=\"NASA worker sentenced to 18 months in prison after lying to govt. for pandemic benefits\">credit card debt<\/a>. \u2062This figure \u2062highlights the\u200c <a href=\"https:\/\/amzn.to\/3YuVZYV\">financial challenges manny \u200dfamilies face<\/a> in managing their\u2064 credit obligations. The report may detail the implications of such\u2063 debt levels on household finances and possibly explore trends or \u200bcauses behind the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-card-debt-hits-record-amid-rising-interest-rates\/\" title=\"Record credit card debt as interest rates rise.\">rising credit card debt<\/a> among Americans. Further insights or\u200b solutions to address this issue may also \u2064be covered in the full article.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Report: Average American household has more than $10,000 in credit card debt<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1905783\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; The average American household credit card balance as of the third quarter of 2024 was about $10,757 after adjusting for inflation, according to a new study.<\/p>\n<div class=\"article-paywall\">\n<p>The personal-finance website WalletHub onFriday released its new Credit Card Debt Study, which found that consumers added $21 billion in debt during the third quarter of 2024.<\/p>\n<p>Early results for the fourth quarter of the year show preliminary data for October at a new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/under-trump-americans-have-seen-their-best-wage-growth-in-40-years\/\" title=\"Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years\">record high<\/a> for credit card debt in the month, in absolute terms.<\/p>\n<p>WalletHub editor John Kiernan wrote, &ldquo;Even though that third-quarter increase was 31% smaller than last year&rsquo;s and total debt is just 3% above where it was last year after adjusting for inflation, we are still in fairly dangerous territory,&rdquo; said Kiernan.<\/p>\n<p>WalletHub writer &amp; analyst Chip Lupo responded via email to follow up questions from The Center Square.<\/p>\n<p>Those early Q4 results showing record high credit card debt for October are alarming-do we know what&rsquo;s driving that at all?<\/p>\n<p>&ldquo;The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economic-update-gdp-revised-down-to-4-9-in-q3\/\" title=\"GDP in Q3 revised down to 4.9% in economic update\">record-high credit card debt<\/a> in October 2024 reflects a 3% year-over-year increase after inflation adjustments, driven by rising interest rates, holiday spending and lingering economic pressures. While Q3 debt growth slowed compared to 2023, total debt remains high at $1.29 trillion, signaling potential challenges ahead for consumers,&rdquo; said Lupo.<\/p>\n<p>Has WalletHub done any analysis of how much credit card debt the average American puts on during the holidays?<\/p>\n<p>&ldquo;While we didn&rsquo;t analyze this specifically, WalletHub found that holiday budgets this year range from just over $200 to more than $4,000, depending on factors such as income, existing debt, and cost of living,&rdquo; said Lupo.<\/p>\n<p>Any advice on balance transferring to avoid interest?<\/p>\n<p>&ldquo;Transferring your credit card balance to a low or 0% APR card can be a smart way to save money and pay down debt faster. When considering a balance transfer, focus on cards offering 0% introductory APRs with promotional periods up to 21 months. Such offers significantly reduce interest payments, provided you can pay off the transferred balance before the regular APR kicks in. Remember, most cards charge a balance transfer fee of about 3%, though some will waive this fee entirely. Calculating these costs upfront is crucial to ensure the move saves money,&rdquo; said Lupo.<\/p>\n<p>With holiday spending in full swing, many Americans are expected to add to credit card debt before the end of the year.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>&ldquo;Nearly half of Americans still have debt from the holidays from last year,&rdquo; said Lupo. &ldquo;The fact that people are still paying off debt from last holiday season makes you wonder if they are going to fall into that trap again or are they cutting back because of last year&rsquo;s debt?&rdquo;<\/p>\n<p>Sixty-eight percent of WalletHub respondents said Santa will be less generous this year because of inflation. And about a third said they&rsquo;ll spend less on holiday shopping this year compared with 2023.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1905783\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1905783\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Report: Average U.S. household holds over $10,000 in credit card debt<\/p>\n","protected":false},"author":1,"featured_media":2377754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/iStock-1058269468-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[46376,46375,33898,36435,33897],"class_list":["post-2377753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-american-households","tag-credit-card-debt","tag-debt-management","tag-financial-news","tag-personal-finance"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/iStock-1058269468-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2377753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2377753"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2377753\/revisions"}],"predecessor-version":[{"id":2377757,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2377753\/revisions\/2377757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2377754"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2377753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2377753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2377753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}