Seven out of ten low- to moderate-income households said they used credit cards to pay for groceries, car repairs or house repairs according to a telephone survey of 1,150 adults conducted by ORC Macro for Demos, a nonprofit group that looks at economic opportunity and the Center for Responsible Lending, a nonprofit advocacy group that focuses on predatory lending, according to a separate report in MarketWatch.
Survey respondents earned 50% to 120% of their county's median income, the report said. Average credit card debt for this group was $8,650. Twenty-nine percent had debt of more than $10,000 and 21 percent owed less than $2,500.
