JANUARY 2004

Drop in Per Capita Credit Card Debt

According to the annual Credit Card Survey by Myvesta.org, a nonprofit consumer education organization, the average amount of credit card debt carried by individuals dropped from $3,250 at the end of 2002 to $2,294 at the end of 2003, a decline of 29.4 percent. Americans are also carrying fewer credit cards, down from 2.5 cards per household in 2002 to 2.3 credit cards in 2003. The table below provides additional data from the survey.