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Credit Card Debt vs. Savings

Posted on: 9:53 am, February 27, 2013, by , updated on: 06:25pm, February 26, 2013

credit cards

(North Palm Beach, FL) Nearly 1 out of every 4 Americans say they have more credit card debt than money in their savings account.

Bankrate’s Financial Security Index for February says 24% of Americans are in this predicament, but there is a silver lining of sorts.

55% of Americans say they do have higher savings account balances than they owe on credit cards.

Meanwhile, 16% of people say they don’t have credit card debt or money in their savings account.

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