Followers

16/01/2011

Credit Card Dept

Following the success of my last post on credit cards i've decided to make another post on credit cards. This one is particually on credit card dept. The graph below shows the average credit card dept to age.
As you can see the average credit card dept increase with age. It increases steadily from just under £8000 to just under £27000. This increasing level of dept could be due to the amount of people with a credit cards. Credit card companies are becoming more known for trapping people into getting into large amounts of dept. They don't tell their customers how much dept they are allowed to go in and often don't give people a chance to escape from dept before charging them extreme amounts of interest. The legality of this can be questoined, but I think the most important thing is to avoid overdrawing. I hope you liked this graph on credit card dept and all make sure you know what your bank is charging you.
Thank you for reading and please feel free to express your own views.
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23 comments:

  1. Anonymous16/01/2011, 21:53

    Even though credit card companies are guilty of being evil, it's not like they held a gun to anyones head and forced them to spend. I have a credit card with about a $5000 credit limit and I barely push $300 of that at any given time. I only ever use my credit card for the 3% on gas and groceries and 1% on everything else.

    I don't blame the credit cards so much as I do the individual person for making poor choices. Same goes with drugs and smoking. Cigarette companies largely aren't responsible for people smoking, it's the smokers fault for doing it in the first place.

    Good blog man. I went to school for economics so I really enjoy this style of writing. Keep up the good work! Following and supporting now!

    ReplyDelete
  2. Bart16/01/2011, 22:08

    alrite way below average compared to that graph

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  3. Drew Briski16/01/2011, 22:41

    I have 0 debt right now. Mostly because I don't have a credit card.

    ReplyDelete
  4. Beau Thompson16/01/2011, 22:55

    I use my credit card as though it were a debit card. Never ever spend more money than I have to immediately pay it off.

    Use it to build credit, so if stuff ever does hit the fan in my life, I have good credit to lean on.

    ReplyDelete
  5. Anonymous16/01/2011, 23:02

    At one time I have 5 credit cards and was robbing Peter to pay Paul.. It took me 7 yrs to pay them all off..I have one credit card now that has a $0.00 balance ..I refuse to use it except in extreme emergencies..

    I think I can learn alot over here with you. Thanks for inviting me!!

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  6. DesignAndLaugh16/01/2011, 23:27

    And this is exactly why I don't have a credit card.

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  7. ValveWorld17/01/2011, 01:32

    30k is a lot of gold to be in debt...

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  8. xy17/01/2011, 01:47

    hello...thanks :)))

    ohhh i love credit cards but but I'm also afraid of credit cards

    Have a great monday!!

    xoxo
    http://mar-iza.blogspot.com/

    ReplyDelete
  9. TheDude74817/01/2011, 02:38

    it's surprising how scary a graph can be. o_o

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  10. Das Auto!17/01/2011, 07:44

    If this is true, that's insane! never knew old people racked up all that debt

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  11. JayPower17/01/2011, 11:02

    Very suprising! Never knew this about credit cards ;D

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  12. Solsby Kid17/01/2011, 13:29

    Damn son thats some crazy sheit

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  13. The Viking17/01/2011, 14:28

    I am 20 and I've never experience debt... Yet :P haha, thanks for this post, it was very useful :)

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  14. BTN Hip Hop17/01/2011, 14:44

    damn, check out my blog for credit card related blogs

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  15. Mr. Rogers17/01/2011, 17:11

    good thing i dont have debt

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  16. Anonymous17/01/2011, 17:58

    Thank god I don't have a credit card! I'll probably be in this graph if I had one

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  17. level85nerd17/01/2011, 18:09

    didnt know that wow!

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  18. The Champ17/01/2011, 19:21

    Old people can't snap the card.

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  19. Anonymous17/01/2011, 22:31

    Makes sense, since interest off the unpaid crap, but that's why I just do cash mostly. snaztoday.blogspot.com

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  20. stm19/01/2011, 14:21

    the avg 65 yr old carries nearly $28k in debt? wtf.

    ReplyDelete
  21. Gno19/01/2011, 20:10

    I don't own a credit card, and don't see myself getting on any time soon now!

    ReplyDelete
  22. r00b02/02/2011, 04:43

    I'm in the 19-24 range and only owe under $200 in my credit card. Hope to pay it soon, I hate being in debt.

    ReplyDelete
  23. Bose22/09/2011, 04:52

    Thanks for revealing this super valuable resource!
    Graphs

    ReplyDelete

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