Consumer Connection - Special Credit Edition

Consumer credit card debt has become an increasingly burdensome drain on many families' resources. Credit card debt nationwide more than quadrupled from 1989 to 2007, rising from $211 billion to $961 billion.

As of December 31, 2007, Californians' share of that debt was estimated at $135.6 billion. According to CardTrak.com, consumer delinquencies on credit card debt rose to 5.52% by the end of the fourth quarter of 2008, up from just over three percent in 2005. Although credit card debt is trending downward as more and more consumers get squeezed, the average American household still has $9,659 in credit card debt.

DCA's Take Charge of Your Credit Card public awareness campaign is part of the Department's ongoing consumer empowerment initiative, Take Charge, California! Launched in March, Take Charge, California! is aimed at helping people understand their consumer rights, make informed choices when buying goods and services, and find help when they have consumer-related complaints. As part of this effort, DCA will release a special edition of its Consumer Connection magazine to help Californians with credit card issues. The special edition of Consumer Connection and other valuable information is posted on State of California - Take Charge website.

View more Consumer Connections issues here.

Download PDF: Consumer Connection - Special Credit Edition