Bankrate: Only 54% of Americans Have More Emergency Savings than Credit Card Debt

NEW YORK, Feb. 21, 2012 /PRNewswire via COMTEX/ -- Only 54% of Americans have more emergency savings than credit card debt, according to a new poll released today by Bankrate.com RATE -0.73%  . One in four Americans (25%) has more credit card debt than emergency savings and 16% have neither credit card debt nor emergency savings.

Bankrate's monthly Financial Security Index held at 97.3, unchanged from January and tied for the highest level since June 2011. Any reading below 100 indicates a lower level of financial security compared with 12 months earlier.

Despite four straight months of improving sentiment, consumers' overall financial situation is still seen as negative. Twenty-seven percent of Americans report a lower level of financial security now versus one year ago and 24% report a higher level. Thirty-eight percent of Americans are less comfortable with their savings now compared with one year ago; only 14% are more comfortable.

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