Average credit card debt in America was $7,491 per household in June 2015. That's $906.5 billion in credit card debt, as reported by the Federal Reserve, divided by 121 million U.S. households, according to the U.S. Census. It's 7.4% higher than the month before. (Source: G-19 Credit Card Report)

The average credit card debt per individual adult (there's 319 million) is $2,841.  But, if you're comparing your credit card debt to the average American, this is a little low.

That's because only 72% of adults have credit cards (according to the latest research, which was 2009).

Therefore, the average revolving debt per card-carrying adult is closer to $4,000. In fact, Credit Cards.com's latest survey of credit card debt per adult is $4,878. Compare this to every month since 2006 in Consumer Debt Statistics.

Of course, some people pay off their credit cards every month. If you're one of them, good for you! Their average debt per month is $1,037. This is much, much lower than the $8,220 average debt load for someone who doesn't pay it off.

Once you've gotten to that level, it's hard to pay it off, and it usually gets worse. The average debt load for someone who has gone to credit counseling is $24,000, it's usually on five different cards, and it's 60% of their total income for the year.  (Source: Fox Business News, Average Credit Card Debt? Take Your Pick, July 13, 2103)

Definition

Credit card debt is a part of consumer debt that is meant to be paid off every month.

For this reason, it is also known as revolving debt. There are also some bank loans and finance company loans that are considered revolving debt, even though they are credit card debt. 

Causes

Most people assume that credit card debt is racked up in massive shopping binges. And, in fact, credit card use is a convenience promoted by retailing.

However, the #1 cause of bankruptcy is healthcare costs. And most people first reach for their credit cards to pay off unexpected medical bills. 

The Bankruptcy Protection Act of 2005 was another major cause of credit card debt. That's because the law intentionally made it more difficult to people to declare bankruptcy. That was good for banks and creditors, but had an unintended and disastrous effect.

People ran up credit card debt to pay their day-to-day bills. The situation worsened in 2008, when gas prices skyrocketed. Homeownersalso turned to equity loans on their homes. This helped cause the 2008 financial crisis. When housing prices fell, homeowners had no equity in their homes. Many, faced with overwhelming bills, simply walked away, allowing their homes to default. (Source: Federal Reserve Revised Credit Card Debt Chart)

Credit Card Debt History

Credit card debt reached a peak of $1.022 trillion in April 2008, an average of $8,299 in credit card debt per household. This was more than a third (38%, to be exact) of total U.S. consumer debt, which also includes auto and education loans. 

The only other time credit card debt was so heavily used was in the late 1990s, when it was 41% of the total. It didn't really drop down too much during that recession, falling only to 36% of total consumer debt.

Today, it's down to a more reasonable 26%. hat's partly an effect of the Dodd-Frank Wall Street Reform Act. It increased bank regulations, forcing them to tighten credit card standards. The Consumer Financial Protection Agency created more safeguards for those using credit cards. The last time Americans relied this little on credit card debt vs loans was in the late 1980s / early 1990s. Article updated August 16, 2015.