Using government debt data and census data, IndexCreditCards.com has determined that the average American adult is carrying $4,150 in revolving debt (mainly credit card debt) and the average American household is carrying $7,980 in such debt.

Data released earlier this month from the Federal Reserve Board estimates that revolving consumer debt in the United States totals over $955 billion. Using census data from 2006 to the present, IndexCreditCards.com estimates the adult (18 and over) population of the U.S. at 230,265,970 and the total number of households at 119,756,270. Dividing the total revolving debt by the population/household figures gives the resulting debt averages.

(Federal Reserve surveys suggest that about 75% of households have at least one credit card, and 25% have none. If we count only those households that report actually having one or more credit cards, the average household credit card debt would be $10,640.)

While still quite high, these numbers are actually down from the averages we reported back in October of 2008, when the average debt per adult was $4,150 and the average per household was $8,188. While the bleak economy might suggest that credit usage would increase, the economy has also caused many lenders to pull back on credit offers. In addition, many consumers have severely cut back on spending as their earning outlooks have become more cloudy.

Revolving debt is mainly debt from credit cards, although related revolving consumer debt such as home equity lines of credit are included as well. A caveat: Not all revolving debt is long-term debt accruing interest — some of this debt is paid off each month. (Although pinpointing how much debt gets paid off every month is difficult, various surveys have reported that 40% to 55% of card holders say they pay off their full balances every month.)

Published 04/22/09 (Modified 04/20/12)