Trivia about money, jobs, budgets, credit, debt, and anything related to personal finance.

Credit

*In 2006, the United States Census Bureau determined that there were nearly 1.5 billion credit cards in use in the U.S. Source: CreditCards.com

*FICO says that 90% of the top 100 banks use the FICO score when making decisions. Source

*Online credit card use is expected to surge 63% from 2011 to 2016. Source

*As of 2011, Experian is the only one of the three major credit bureaus reporting the payment history of renters.

*Payments made with credit cards on Black Friday 2011 jumped 7.4% from the same day a year earlier. Source

*Credit card mailings have surged 85% since the beginning of 2010 to 1.3 billion credit card offers in the third quarter of 2011. Source

*Your actual FICO score ranges from 300-850, and you have 3 separate FICO scores for each credit reporting agency EQ, EX, and TU. Source

*The average household in 2010 carried nearly $6,500 in credit card debt.

*Regulations require lenders to provide a credit score and related information when they deny a consumer's request for credit or provide credit with less favorable credit terms than other consumers with better credit histories. Source

*The average person seeking a credit counselor carries a balance on two credit cards.

*From 1990 to 2000, the number of Americans seeking the help of a credit counselor doubled.

*Nearly 75% of those seeking help from a credit counselor held a credit card.

*College students carry an average of $552 in credit card debt.

*On average, today's consumer has a total of 13 credit obligations. Of these 13 credit obligations, nine are likely to be credit cards and four are likely to be installment loans.
Source

*Less than half of all consumers have ever been reported as 30 or more days late on a payment. Source

*7% of all consumers have never had a loan or account that was 90+ days overdue. Less than 20% of U.S. consumers have ever had a loan or account closed by the lender due to default. Source

*About 40% of credit card holders carry a balance of less than $1,000. About 15% have total card balances in excess of $10,000. Source

*48% of consumers carry less than $5,000 of debt, while nearly 37% carry more than $10,000 of non-mortgage-related debt as reported to the credit reporting agencies. Source

*The typical consumer has access to approximately $19,000 on all credit cards combined. Source

*The average consumer initiated only one inquiry within the past year. Fewer than 6% had four or more inquiries over the past year. Source

*Experian's 2012 report says that Minneapolis, MN residents have the best credit scores in the country. Harlingen, Texas has the worst. Where does your city fit in? Get more information

Get more financial trivia here: Budget  Clothing  Coupons  Credit  Economy  Education  Employment  Entertainment  Entrepreneurs  Famous People  Food  Health  Holidays  History  Housing  Household  Insurance  Marriage  Miscellaneous  Real Estate  Retirement  Spending  Taxes  Transportation  Unemployment