June 16, 2006, Newsletter Issue #44: Consumer Credit Information

Tip of the Week

Debt collection industry tips:

Facts about the U.S. credit economy and consumer credit information:

There are over one billion credit reports issued annually;
Two-thirds of the American economy is driven by consumer spending;
Outstanding consumer credit totals $1.7 trillion;
Credit reporting saves the average person 200 basis points on their mortgage loan;
On average, every U.S. household owns a car and one-third have a second car;
The average American has eight credit cards or loans;
There are 7000 credit card issuers in the U.S. offering more than 27,000 types of payment options.

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