A new survey finds many Iowans owe less money on their credit cards. The average amount of credit card debt for Americans has fallen about 29 percent, according to the consumer group MyVesta.org. Their latest survey found the average American carries about $2300 in credit card debt, down nearly $1000 from last year. MyVesta.org doesn’t break down the figures by state, but it does say those in the Midwest have the smallest average balances at about $1700. On the down side, officials say the decrease could be from people rolling the debt into home equity loans and that the holiday shopping season could ruin the progress that they’ve made.
Iowa's Radio News Network
