U.S. consumers' average credit card debt in June inched up after falling to its lowest level of the year in May, while the average credit score dropped for the first time in 2010, according to data from Credit Karma.
Consumers' average credit card debt in June was $7,833, up 0.2% from May and up 12.9% from a year earlier, the San Francisco company, whose website tracks credit scores, said. U.S. consumers' credits scores dropped a point from May, to an average of 668.
Ken Lin, Credit Karma's chief executive, said the trends in consumer credit generally are a good proxy for consumer views in the economy. "Consumers are feeling more confident about the economy; they're feeling a bit better," he said. "It's a small increase, but we'll see in the next few months" whether they sustain that confidence.
