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Credit-Card Debt Snaring More High-Income People

Posted by Charlie Kilo on June 27th, 2008

More “no duh” news from CNBC:

An attorney with a six-figure salary, Will Chen thought credit card debt was something that only affected people with low-paying jobs. But when the lavish spending inspired by his new job outpaced his paychecks, he quickly fell $100,000 into debt.

Credit-card debt is becoming even more prominent in the struggling state of the economy. The average amount per consumer rose to $6,900 in the last year, a 21 percent increase, according to Experian, a global information services company. The average number of past-due accounts also increased to exceed more than one per consumer.

And it’s not just those with low salaries who are susceptible.

One Response to “Credit-Card Debt Snaring More High-Income People”

  1. Elizabeth White Says:
    June 27th, 2008 at 1:19 pm

    Has anyone heard of Credit Card Zappers?

    They are supposed to be able to knock interest and other fees off your card, even if you’re not behind on payments.

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