CHICAGO –TransUnion.com released today the results of its analysis of trends in the credit card lending industry for the fourth quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data that may be found on TransUnion’s Web site. Information for this analysis is culled quarterly from approximately 27 million anonymous, individual credit files, providing a real-life perspective on how U.S. consumers are managing their credit health.
Statistics
Average bankcard borrower debt (defined as the aggregate balance on all bank-issued credit cards for an individual bankcard borrower) inched upward nationally 0.33 percent to $5,729 from the previous quarter’s $5,710, and 1.96 percent compared to the fourth quarter of 2007 ($5,619). The highest state average bankcard debt was in Alaska at $7,466, followed by Nevada at $6,638 and Tennessee at $6,560. The lowest average bankcard debt was found in Iowa ($4,267), followed by North Dakota ($4,414) and West Virginia ($4,555).
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