Overall, U.S. consumers have been finding ways to dig themselves out of credit card debt, even with the ridiculous unemployment numbers and foreclosure rates. Nationally, credit card debt has decreased a whopping 4%! That is an amazing number when you consider these rough economic times that we still find ourselves in.
What is also amazing is that overall national credit scores are improving as well. Nationally, U.S. consumers have brought up there credit score by 32%, while 32% have remained the same number and 29% have decreased. Today, the average credit score is 672, which is a pretty good number considering our situations.
While all news isn’t great on the credit card front, and in yesterdays posting we spoke about how tough credit card companies are being on Arizona residents, things are definitely turning around. Louisiana is one of the states that has continued to fall below the line. The latest numbers from Louisiana show a credit debt increase of 15%, although their state average credit card balance is almost a thousand lower than the national average.
As I’ve said time and time again, perhaps this crushing economy hasn’t been all bad for us. If you’ll allow me to get on my soap-box for a minute, we all know it’s been excruciatingly tough for families to keep dinner on the table, however it has also been inspiring to see families spending time together. How many families are sitting around the game table playing Monopoly again? Or talking a walk to the park with the dogs instead of sitting in front of a movie or going out of town? I know many families who spent more time relaxing in a campsite, together and happy, rather than going to an expensive resort and never spending any time together.
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