Credit card debt in 2014 represented the lowest percentage of overall consumer debt since 1990, according to The Nilson Report, a firm that tracks and publishes payment data.
According to Nilson, U.S. consumer credit card debt in 2014 accounted for 6.52% or $881.57 billion of the total $13.512 trillion in overall household debt, as calculated by the Federal Reserve. Credit card debt as a portion of overall household debt hit its highest percentage in 1996 at 10.05%, Nilson said.
Nilsson calculated its numbers for credit card debt from surveys of financial institutions and other card lenders.
Credit card debt accounted for 26.58% of the $3.317 in total consumer credit in 2014, the lowest percentage it has had since 1990 when it stood at 29.42%. Card debt stood at its highest percentage in in 1997 when it hit 40.95%, Nilson reported.
On a per household basis, credit card debt stood at $7154 in 2014, up from $6,887 in 2013, the firm reported.
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