2018 Credit Card Debt Survey
Credit cards offer plenty of perks, from rewards on every purchase to 0% APRs. But credit cards can also get us into trouble if we aren’t careful. Reducing debt and adopting sustainable spending habits are particularly important, so WalletHub decided to see how consumers are approaching those tasks.
We performed a nationally representative survey online. You can find the complete results in the infographic below, along with some key takeaways from WalletHub’s latest Credit Card Debt Study.
Do you owe any credit card debt?
Would you get a new credit card to lower the cost of your credit card debt?
How long will it take you to be debt-free when it comes to credit-card debt?
|Less than 1 year||41%|
|More than 2 years||25%|
|I don’t know||8%|
Roughly how much credit card debt do Americans owe?
Do you have more or less credit card debt than you did 12 months ago?
Will you have more or less credit card debt by the end of 2018?
What type(s) of purchases are worth going into credit card debt for?
Would go into CC debt for frivolous spending?
Which is better run right now?
|Your personal finances||89%|
|The federal government||11%|
Which are people worst at saving for?
Do you remember why you got into credit card debt?
How does credit card debt make you feel?
Which would you do to get out of credit card debt?
|Go streaking in the winter||47%|
|Leave the country||10%|
|Change your name||7%|
|Commit a robbery||0%|
Which would you be more embarrassed about?
|People seeing you naked||81%|
|People seeing how much credit card debt you have||19%|
How close do you think we are from another recession?
|3 years or more||40%|
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