TransUnion.com released today the results of its analysis of trends in the credit card lending industry for the second quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data that may be found on TransUnion's Web site.
Statistics
The recent first-quarter drop in average credit card debt was temporary, as data from second quarter 2008 shows a slight increase across the board geographically. National credit card debt per credit card borrower increased 2.63 percent to $1,717 from the previous quarter's $1,673, and 8.6 percent compared to the second quarter of 2007 ($1,581). The highest state average card debt per credit card borrower was in Alaska at $2,494, followed by Tennessee at $2,109 and Alabama at $2,015. The lowest average credit card debt per credit card borrower was found in Iowa ($1,281), followed by North Dakota ($1,318) and South Dakota ($1,388).
