Average Credit Card Debt in Every State
The first universal credit card was introduced in 1950 and gave greater buying power to the average American consumer. But now, with more than 189 million credit card holders across the country, this line of cash may be doing more harm than good.
The fluctuating economy has never made it particularly easy for borrowers. The Bankruptcy Abuse Prevention and Consumer Protection Act was passed in 2005, which made it significantly more difficult for people to file for bankruptcy. This change forced many consumers to open credit cards to pay their outstanding bills — and credit card debt has only multiplied ever since, with the Great Recession heightening debt to seemingly unrecoverable levels.
In the midst of another recession, however, Americans continue to pile on the credit card debt. Currently, the total U.S. consumer debt sits at $13.86 trillion, with the average American’s credit card debt hitting $5,938 in 2019.
To determine the average credit balance in every state, GOBankingRates analyzed Experian data that looked at the average credit card debt across America for both 2018 and 2019. GOBankingRates ranked the states from the lowest to highest average credit card balance in 2019. Interestingly, many Midwestern and Southern states boast the lowest credit card debt across the country, while much of the Northeastern region doesn’t fare as well financially. If you have an unusually high credit card balance compared to your fellow state residents, you may want to consider making a balance transfer to save money and consolidate payments.
Last updated: Sept. 25, 2020
50. Iowa
Average credit card debt in 2018: $4,685
Average credit card debt in 2019: $4,774
Year-over-year change: 1.90%
49. Wisconsin
Average credit card debt in 2018: $4,908
Average credit card debt in 2019: $4,961
Year-over-year change: 1.08%
48. Mississippi
Average credit card debt in 2018: $4,998
Average credit card debt in 2019: $5,134
Year-over-year change: 2.72%
47. Kentucky
Average credit card debt in 2018: $5,060
Average credit card debt in 2019: $5,140
Year-over-year change: 1.58%
46. West Virginia
Average credit card debt in 2018: $5,074
Average credit card debt in 2019: $5,144
Year-over-year change: 1.38%
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45. Idaho
Average credit card debt in 2018: $5,102
Average credit card debt in 2019: $5,213
Year-over-year change: 2.18%
44. South Dakota
Average credit card debt in 2018: $5,131
Average credit card debt in 2019: $5,235
Year-over-year change: 2.03%
43. Indiana
Average credit card debt in 2018: $5,174
Average credit card debt in 2019: $5,254
Year-over-year change: 1.55%
42. North Dakota
Average credit card debt in 2018: $5,162
Average credit card debt in 2019: $5,265
Year-over-year change: 2.00%
41. Arkansas
Average credit card debt in 2018: $5,298
Average credit card debt in 2019: $5,327
Year-over-year change: 0.55%
40. Michigan
Average credit card debt in 2018: $5,310
Average credit card debt in 2019: $5,399
Year-over-year change: 1.68%
39. Nebraska
Average credit card debt in 2018: $5,308
Average credit card debt in 2019: $5,423
Year-over-year change: 2.17%
38. Maine
Average credit card debt in 2018: $5,143
Average credit card debt in 2019: $5,442
Year-over-year change: 5.81%
37. Vermont
Average credit card debt in 2018: $5,278
Average credit card debt in 2019: $5,466
Year-over-year change: 3.56%
36. Montana
Average credit card debt in 2018: $5,383
Average credit card debt in 2019: $5,482
Year-over-year change: 1.84%
35. Minnesota
Average credit card debt in 2018: $5,367
Average credit card debt in 2019: $5,489
Year-over-year change: 2.27%
34. Oregon
Average credit card debt in 2018: $5,319
Average credit card debt in 2019: $5,498
Year-over-year change: 3.37%
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33. Ohio
Average credit card debt in 2018: $5,494
Average credit card debt in 2019: $5,560
Year-over-year change: 1.20%
32. Utah
Average credit card debt in 2018: $5,456
Average credit card debt in 2019: $5,600
Year-over-year change: 2.64%
31. Missouri
Average credit card debt in 2018: $5,544
Average credit card debt in 2019: $5,601
Year-over-year change: 1.03%
30. Alabama
Average credit card debt in 2018: $5,557
Average credit card debt in 2019: $5,672
Year-over-year change: 2.07%
29. Tennessee
Average credit card debt in 2018: $5,579
Average credit card debt in 2019: $5,688
Year-over-year change: 1.95%
28. Kansas
Average credit card debt in 2018: $5,719
Average credit card debt in 2019: $5,769
Year-over-year change: 0.87%
27. Wyoming
Average credit card debt in 2018: $5,754
Average credit card debt in 2019: $5,782
Year-over-year change: 0.49%
26. Louisiana
Average credit card debt in 2018: $5,712
Average credit card debt in 2019: $5,811
Year-over-year change: 1.73%
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25. North Carolina
Average credit card debt in 2018: $5,732
Average credit card debt in 2019: $5,832
Year-over-year change: 1.74%
24. Pennsylvania
Average credit card debt in 2018: $5,735
Average credit card debt in 2019: $5,840
Year-over-year change: 1.83%
23. Oklahoma
Average credit card debt in 2018: $5,756
Average credit card debt in 2019: $5,848
Year-over-year change: 1.60%
22. New Mexico
Average credit card debt in 2018: $5,804
Average credit card debt in 2019: $5,851
Year-over-year change: 0.81%
21. South Carolina
Average credit card debt in 2018: $5,765
Average credit card debt in 2019: $5,938
Year-over-year change: 3.00%
20. Arizona
Average credit card debt in 2018: $5,909
Average credit card debt in 2019: $6,053
Year-over-year change: 2.44%
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19. Washington
Average credit card debt in 2018: $5,998
Average credit card debt in 2019: $6,156
Year-over-year change: 2.63%
18. Rhode Island
Average credit card debt in 2018: $6,042
Average credit card debt in 2019: $6,177
Year-over-year change: 2.23%
17. Massachusetts
Average credit card debt in 2018: $6,022
Average credit card debt in 2019: $6,213
Year-over-year change: 3.17%
16. Nevada
Average credit card debt in 2018: $6,036
Average credit card debt in 2019: $6,220
Year-over-year change: 3.05%
15. California
Average credit card debt in 2018: $5,998
Average credit card debt in 2019: $6,222
Year-over-year change: 3.73%
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14. New Hampshire
Average credit card debt in 2018: $6,094
Average credit card debt in 2019: $6,235
Year-over-year change: 2.31%
13. Illinois
Average credit card debt in 2018: $6,112
Average credit card debt in 2019: $6,253
Year-over-year change: 2.31%
12. Delaware
Average credit card debt in 2018: $6,176
Average credit card debt in 2019: $6,335
Year-over-year change: 2.57%
11. Colorado
Average credit card debt in 2018: $6,273
Average credit card debt in 2019: $6,416
Year-over-year change: 2.28%
10. Florida
Average credit card debt in 2018: $6,236
Average credit card debt in 2019: $6,460
Year-over-year change: 3.59%
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9. New York
Average credit card debt in 2018: $6,309
Average credit card debt in 2019: $6,491
Year-over-year change: 2.88%
8. Georgia
Average credit card debt in 2018: $6,400
Average credit card debt in 2019: $6,569
Year-over-year change: 2.64%
7. Hawaii
Average credit card debt in 2018: $6,441
Average credit card debt in 2019: $6,673
Year-over-year change: 3.60%
6. Texas
Average credit card debt in 2018: $6,596
Average credit card debt in 2019: $6,753
Year-over-year change: 2.38%
5. Maryland
Average credit card debt in 2018: $6,770
Average credit card debt in 2019: $6,946
Year-over-year change: 2.60%
4. Virginia
Average credit card debt in 2018: $6,822
Average credit card debt in 2019: $6,969
Year-over-year change: 2.15%
3. Connecticut
Average credit card debt in 2018: $6,893
Average credit card debt in 2019: $7,082
Year-over-year change: 2.74%
2. New Jersey
Average credit card debt in 2018: $6,907
Average credit card debt in 2019: $7,084
Year-over-year change: 2.56%
1. Alaska
Average credit card debt in 2018: $7,974
Average credit card debt in 2019: $8,026
Year-over-year change: 0.65%
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Methodology: GOBankingRates used Experian’s “A Look at U.S. Consumer Credit Card Debt” to find (1) the average credit card debt for each state for 2018 and 2019 and (2) the year-over-year change in credit card debt by state. All data used to conduct this ranking was compiled and verified on Jan. 20, 2020.
This article originally appeared on GOBankingRates.com: Average Credit Card Debt in Every State
