Average payment rates on credit cards are a very telling statistic. And the amount that consumers paid on their card balances in November dropped like a rock to a record low. Generally the average payment rate is approximately 19%, including those who pay their balances in full each month as well as those who only pay the minimum amount due. In November, this number collapsed below 16%, the largest one month drop ever. This is a result of a confluence of factor including the credit squeeze and the impact of job losses on the economy.