As a consumer, it may be beneficial to keep credit card debt to a minimum. According to a recent survey by a financial website, the average credit card debt was $10,902. The amount was slightly lower for those under the age of 30 and was slightly higher for those over the age of 30 according to the study. Other studies concluded that the average credit card debt was anywhere between $7,087 and $7,100 per household.

It is important for those who are studying credit card debt to have a solid definition of what a credit card is. This is because spending habits may be different for those who use a department store credit card as opposed to those who use a traditional credit card. Studies also show that there is a difference in the average balance between those who keep a balance each month compared to those who pay in full.

For those who kept a balance each month, they had an average balance of $8,220 compared to just $1,037 for those who paid in full each month. Experts say that credit card users who are looking for ways to cut back on their credit debt balances may wish to consider cutting up their credit cards or use balance transfers to lower interest paid on that debt.

Those who are struggling with credit card debt may wish to speak to a bankruptcy attorney about their debt relief options. It may be possible to negotiate with a creditor to lower a borrower's interest rate, waive penalties or make alternate payment arrangements for past due bills. This may enable a borrower to resolve debt issues without having to file for Chapter 7 or Chapter 13 bankruptcy.

Source: Daily Finance, "Is Your Credit Card Debt Average? And What's Average?", Michele Lerner, June 11, 2014