1 in 4 Americans have more credit card debt than savings

Answer 1

According to a February survey of 1,000 Americans by BankRate.com, about 24% say they have more credit card debt than savings, while 55% say the opposite.

The survey also found that 16% say they have neither credit card debt nor savings. The rest of the respondents stated they didn't know or refused to answer the question.

Overall, 40% of the population is near the edge of a financial pitfall while the remainder appear to be financially stable.

It was noted that the results from the website's survey haven't changed from the 2012 and 2011 data, however, the findings suggest that Americans continue to have a difficult time saving for an emergency and paying down debt levels.