Consumers in Texas and across the nation are accumulating more and more credit card debt, according to a new report by CreditDonkey.com. Furthermore, 55 percent of credit card users fail to pay their credit card balance in full each month.
The report found that 83 percent of American adults have at least one credit card and the average credit card user has an individual debt of over $5,300 in 2019. Meanwhile, the total revolving U.S. credit card debt is currently $1.04 trillion, which is a significant jump from the $857 billion racked up in 2013. The report also found that the average interest rate paid by U.S. consumers is 16.46 percent, and adults between the ages of 35 and 65 have the most credit card debt.