U.S. households paid down $28.6 billion in credit card debtduring the first quarter of 2016, which represented the smallest Q1debt reduction since 2008, CardHub reported.

The company, which offers comparisons of various credit cards,reported that skimpy paydown amount followed a year during whichsome $71 billion in debt was added to cards. That means householdspaid off just 38% of the amount they added to cards in 2015.

CardHub is now projecting those U.S. households will end theyear with about $1 trillion in outstanding balances – the highestever. That projection would bring the amount owed by the averageindebted household to more than $8,500.

CardHub reported the average indebted household balance reached$7,597 – a 6% increase compared to the first quarter of 2015. Theservice said that is just $831 below the tipping point it estimatesas unsustainable.

The company warned results from the first quarter of the yearwere greatly similar to results from the first quarter of 2007,including the paydown amount and its size relative to the previousquarter's build-up.

“That is not good news for consumers, considering the financialturmoil that followed the last time around,” the companyconcluded.