Even Americans With Good Credit Are Struggling With Debt
It's no secret that countless Americans are burdened by credit card debt. The typical household, in fact, owes $5,700 in outstanding charges, with Americans in their 30s, 40s, and 50s owing between $8,000 and $9,000, on average. But while you'd think that many of those with hefty balances would have credit scores that reflect their tendency to overspend, that's not necessarily true.
In fact, a surprising number of consumers with good credit are overwhelmed by debt nonetheless. In fact, 38% of Americans with credit scores of 660 and over are struggling with credit card balances, according to a recent survey by Marcus by Goldman Sachs. It just goes to show that when it comes to credit scores, a single number doesn't tell the whole story.
Image source: Getty Images.
Source: Fool.com
