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CFPB: Average credit card debt up 9% since 2015

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CFPB: Average credit card debt up 9% since 2015

Average credit card debt has risen 9% since 2015, the Consumer Financial Protection Bureau reports. For cardholders with "deep subprime" scores, the increase was by 26%.

The CFPB's biennial report on the U.S. credit card market also showed that new credit card originations climbed about 50% since 2010. In 2016, approximately 110 million new credit cards were opened — higher than any year since 2007, according to the regulator. And the total credit line — meaning the amount of debt consumers can incur — has topped $4 trillion as of mid-2017. A high of $4.4 trillion was recorded in mid-2008.