A new report shows that the average credit card debt of American adults has dropped to $3,752 and the average household debt is carrying $7,394 in revolving credit card debt.

The new numbers, as reported by IndexCreditCards.com, are down from $4,013 for individual adults and $7,861 for households when the last report came out in July 2009.

“Debt levels have gone down for two reasons,” said IndexCreditCards.com founder Adam Jusko. “Number one, consumers are simply spending less because of the overall economy, so fewer new charges are ending up on credit cards. Number two, credit card issuers have been actively shedding customers, especially those seen as higher risk, because of the higher number of defaults they’ve had to endure recently. Combine less spending with fewer cards in consumers’ hands, and it’s no surprise that debt levels are decreasing.”

The new report marks the fourth consecutive drop in credit card debt.

IndexCreditCards.com uses debt data provided by the federal government and census data to make estimates on the average credit card debt for adults and households.  The Federal Reserve reports that the estimated consumer debt of Americans last November was $874 billion.