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The average household credit card debt in America is $9,654, and the states with the largest amount of credit card debt are Alaska, Hawaii, and New Jersey.
Between the first quarters of 2022 and 2023, The Federal Reserve Bank of New York reported that the credit card debt in America rose by $145 billion. As of June 2023, we saw a 12-month inflation increase of 3%, the smallest year-over-year increase since March 2021.
By understanding American credit card debt statistics, you’ll better understand where you stand and what you can do to potentially lower your debt. Credit card debt increases your credit utilization ratio, which can hurt your credit and ultimately cost you more money in interest.
We surveyed over 1,100 Americans to learn more about credit card debt statistics in the United States. This data covers the average debt by state, average interest rates, and more. While many of the statistics from our other sources look at the situation as a whole, our data helps us see what’s happening on an individual level.
In this article, we’ll also provide tips on how to get out of debt and work toward better credit.
Table of contents:
Many factors play into credit card debt, such as the average interest rates, which cards have the best offers, and the balance people carry on their card. These statistics will help you compare your own credit card balance to the national average and see if you’re getting a good deal with your current cards.
Here are the standout findings of various debt statistics:
The American Bankers Association releases a quarterly report for consumer credit conditions, and the most recent data comes from the third quarter of 2022.
In America, approximately 43% of credit cards carried a balance, 23% were dormant, and 34% were used but paid off each month. Those who pay off their credit card balance are able to keep a low credit utilization ratio and prevent the accumulation of debt.
Tip: Use our credit card payoff calculator to estimate when you’ll be debt free.
LendingTree analyzed the terms and conditions of 200 credit cards from upwards of 50 different credit card companies, banks, and credit unions. With this data, they were able to gather an assortment of information involving annual percentage rates (APR).
The APR is the amount of interest consumers pay for their purchases, and the following table is broken down by credit card type.
The following table is based on data from July 2023.
Credit card type | Minimum APR | Maximum APR | Average | Previous month |
---|---|---|---|---|
Average APR for all new card offers | 20.79% | 27.70% | 24.24% | 24.06% |
0% balance transfer cards | 18.48% | 27.50% | 22.99% | 23.04% |
No-annual-fee cards | 20.24% | 27.36% | 23.80% | 23.59% |
Rewards cards | 20.57% | 27.82% | 24.19% | 24.07% |
Cashback cards | 20.67% | 27.40% | 24.04% | 23.80% |
Travel rewards cards | 20.66% | 28.55% | 24.61% | 24.53% |
Airline credit cards | 20.96% | 29.14% | 25.05% | 25.05% |
Hotel credit cards | 21.43% | 29.25% | 25.34% | 25.21% |
Low-interest credit cards | 13.82% | 22.39% | 18.11% | 18.60% |
Grocery rewards cards | 20.31% | 27.93% | 24.12% | 24.18% |
Gas rewards cards | 20.72% | 27.74% | 24.23% | 24.28% |
Dining rewards cards | 20.45% | 28.23% | 24.34% | 24.26% |
Student credit cards | 19.38% | 27.67% | 23.53% | 23.02% |
Secured credit cards | 26.86% | 26.86% | 26.86% | 25.83% |
In February 2023, Credit Karma gathered data from 74 million of their members to see which states had the most and least amount of credit card debt. Below, we’ve compiled a complete list based on Credit Karma’s data that contains the average credit card debt for each of the 50 states alphabetically.
State | Average credit card debt | |
---|---|---|
Alabama | $5,647 | |
Alaska | $8,139 | |
Arizona | $6,198 | |
Arkansas | $5,600 | |
California | $6,952 | |
Colorado | $6,710 | |
Connecticut | $7,032 | |
Delaware | $6,429 | |
Florida | $6,783 | |
Georgia | $6,563 | |
Hawaii | $7,444 | |
Idaho | $5,737 | |
Illinois | $6,615 | |
Indiana | $5,601 | |
Iowa | $5,732 | |
Kansas | $6,122 | |
Kentucky | $5,455 | |
Louisiana | $5,872 | |
Maine | $5,788 | |
Maryland | $7,248 | |
Massachusetts | $6,700 | |
Michigan | $5,812 | |
Minnesota | $6,166 | |
Mississippi | $5,259 | |
Missouri | $5,869 | |
Montana | $6,026 | |
Nebraska | $6,188 | |
Nevada | $6,548 | |
New Hampshire | $6,545 | |
New Jersey | $7,306 | |
New Mexico | $5,871 | |
New York | $7,029 | |
North Carolina | $5,969 | |
North Dakota | $6,347 | |
Ohio | $5,879 | |
Oklahoma | $6,030 | |
Oregon | $6,113 | |
Pennsylvania | $6,180 | |
Rhode Island | $6,498 | |
South Carolina | $5,989 | |
South Dakota | $5,987 | |
Tennessee | $5,832 | |
Texas | $6,707 | |
Utah | $6,040 | |
Vermont | $5,945 | |
Virginia | $7,174 | |
Washington | $6,869 | |
West Virginia | $5,674 | |
Wisconsin | $5,593 | |
Wyoming | $6,383 |
The following states had the most credit card debt, with Alaska having the highest average credit card debt in America at $8,139 per person.
| State | Average credit card debt |
---|---|---|
1. | Alaska | $8,139 |
2. | Hawaii | $7,444 |
3. | New Jersey | $7,306 |
4. | Maryland | $7,248 |
5. | Virginia | $7,174 |
6. | Connecticut | $7,032 |
7. | New York | $7,029 |
8. | California | $6,952 |
9. | Washington | $6,869 |
10. | Florida | $6,783 |
The major credit bureau, Experian, tracks credit card debt data as well and found that between 2021 and 2022, overall credit card debt in the U.S. increased from $785 billion to $910 billion—a 16% increase. The average debt also increased in many states, according to Credit Karma’s report.
| State | Average credit card debt |
---|---|---|
1. | Mississippi | $5,259 |
2. | Kentucky | $5,455 |
3. | Wisconsin | $5,593 |
4. | Arkansas | $5,600 |
5. | Indiana | $5,601 |
6. | Alabama | $5,647 |
7. | West Virginia | $5,674 |
8. | Iowa | $5,732 |
9. | Idaho | $5,737 |
10. | Maine | $5,788 |
Credit Karma’s report with the state-by-state data also broke down credit card debt by age group. Currently, Generation X carries the most credit card debt, while Generation Z carries the least.
Age group | Average credit card debt |
---|---|
11-26 (Generation Z) | $2,781 |
27-42 (Millennials) | $5,898
|
41-58 (Generation X) | $8,266 |
59-77 (Baby Boomers) | $7,464 |
78-95 (Silent Generation) | $5,649 |
The following data comes from the Federal Reserve’s Survey of Consumer Finances (SCF) and was most recently updated in 2019. The Federal Reserve completed a new survey at the end of 2022 and will have updated data later in 2023.
As you’ll see, higher-income individuals have much more credit card debt than those who make less. This makes sense because high-income individuals are able to get much larger credit lines. But when you look at the debt-to-income ratio, lower-income households have much more consumer debt compared to the amount of money they make.
Percentile of Income | Average credit card debt |
---|---|
Less than 20% | $3,800 |
20%-39% | $4,700
|
40%-59% | $4,900 |
60%-79% | $7,000 |
80%-89% | $9,800 |
90%-100% | $12,600 |
A recent study from WalletHub found that while total credit card debt in the United States rose 14.1% between 2022 and 2023, household credit card debt only rose by 8.39%.
Their data shows that the average household credit card debt at the end of the first quarter in 2023 was $9,654 adjusted for inflation, which is $738 higher than the same time the previous year. WalletHub’s chart goes back to 1986, and the highest household credit card debt was in 2007 when it was $12,221 on average per household.
Research from Annuity.org shows that Black and Hispanic Americans are less likely to feel financially stable and less likely to have a bank account. This information can help us better understand what’s happening in the financial lives of different communities.
This data comes from the Federal Reserve’s 2019 SCF.
Race | Average credit card debt |
---|---|
White (non-Hispanic) | $6,940 |
Black or African American (non-Hispanic) | $3,940
|
Hispanic or Latino | $5,510 |
Other or multiple races | $6,320 |
When someone is at least 30 days past due on their credit card payment, their status becomes delinquent. The number of delinquencies in the United States can be a measure of people’s ability to pay down their credit card debt.
To track this data, Experian conducted a study between 2021 and 2022:
Credit card debt in America is something many individuals struggle with, and when your debt isn’t under control, it can affect your credit. A lower credit score leads to higher interest rates, which means you’re paying more for your purchases. It can also lead to being denied new credit lines.
Here are some simple steps you can take to start getting out of debt sooner rather than later:
If you need help getting your debt under control and improving your credit, Credit.com has resources to help you learn to better manage your finances. To begin managing your credit, sign up for a free credit report card and check out ExtraCredit®. Our services can help you learn how to work on your credit and educate you about managing your finances so you know how to work toward the life you want.
Methodology for Credit.com data: This survey was conducted for Credit.com using Suzy. The sample consisted of a total of 1,154 responses per question and is statistically representative of the general population. This survey was conducted in December 2022.
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