If You Think the Equifax Data Breach Is Scary, Check Out This Statistic
Americans love their credit cards. Like really, really love their credit cards. Earlier this year, the Federal Reserve noted that aggregate credit card debt topped the $1 trillion mark, joining auto loans and student loan debt over $1 trillion in aggregate owed. The $1.027 trillion owed according to the most recent Fed update is also an all-time high, breaking the previous high set before the Great Recession.
In terms of ownership, roughly seven out of 10 Americans have at least one credit card, says CreditCards.com. If we use data from the U.S. Census Bureau of adults aged 18 and up, this works out to roughly 174 million people.
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Source: Fool.com
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