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What percent of credit card holders pay off in full every month?

its about half

http://www.boston.com/business...late_fees_much_higher/

The report released Wednesday by the Government Accountability Office, Congress' investigative arm, describes the fees, interest rates and disclosure practices of 28 popular credit cards.
Click to expand...

In addition, the study found, holders of nearly half of all active credit card accounts paid little or no interest in 2005 because they generally paid their balances in full.
Click to expand...
 
maybe a poll would work better? or are you asking someone to guess the percentage? I pay in full on time.
 
Originally posted by: FoBoT
its about half

http://www.boston.com/business...late_fees_much_higher/

The report released Wednesday by the Government Accountability Office, Congress' investigative arm, describes the fees, interest rates and disclosure practices of 28 popular credit cards.
Click to expand...

In addition, the study found, holders of nearly half of all active credit card accounts paid little or no interest in 2005 because they generally paid their balances in full.
Click to expand...
Click to expand...

wow, i figured it would be a lot lower.
 
Originally posted by: FoBoT
its about half

http://www.boston.com/business...late_fees_much_higher/

The report released Wednesday by the Government Accountability Office, Congress' investigative arm, describes the fees, interest rates and disclosure practices of 28 popular credit cards.
Click to expand...

In addition, the study found, holders of nearly half of all active credit card accounts paid little or no interest in 2005 because they generally paid their balances in full.
Click to expand...
Click to expand...

Then I'm in the about half that pays in full and on time.

 
I try to... but I only really use it for large purchases, so although paying interest sucks, paying for the item in chunks is easier.

If I buy an item that's $1500, I'd rather have $500+int come out of my account 3 months straight than $1500 all at once.
 
Originally posted by: pontifex
well its easy to do when you have a $300,000 a year job.
Click to expand...

Most of ATOT makes at least that much. Also we have supermodel girlfriends and are packing at least 10 inches.

But seriously- I make an absolutely pathetic wage but I always pay off my credit card. I couldn't afford the interest. If I have to make an expensive purchase, I go to my emergency account.
 
FoBoT had a good article, here is one with a few more numbers.
[*]31.2% of the households paid off their most recent credit card bills in full.
[*]55.3% regularly paid off their balances in full

So, about half regularly pay it off in full, but only 1/3rd religiously pay it off in full. However, things really aren't that bad for most of those who don't pay it off in full:

[*]Of the households that did carry a balance, the median amount owed was $1,900.

Looking at just the individuals within the families:
[*]About 48% of credit card holders owed less than $1,000.

So, for about half, there really is no CC problem. But for the select few, credit cards are horrible:
[*]1% of families owe $21,400 or more
[*]Of those who owe $10,000+, 13% have household incomes under $30,000.

So it is a few people in really bad shape combined with a good number of people who have them fully under control. In the end, the average thus looks bad:
[*]The average debt per American household with at least one credit card was $8,940.

But, the average is pretty meaningless when it is skewed so far by the 1% who owe so much. Remember, the median is $1900. When the average is so far off from the median, there are just a few people in a big amount of hurt.
 
Originally posted by: pontifex
well its easy to do when you have a $300,000 a year job.
Click to expand...

I think a number of now-broke celebrities have demonstrated that it's possible to outspend your income no matter how high it is.
 
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