{"id":12749,"date":"2023-05-02T06:00:00","date_gmt":"2023-05-02T12:00:00","guid":{"rendered":"https:\/\/www.lexingtonlaw.com\/blog\/?p=12749"},"modified":"2025-06-06T14:35:43","modified_gmt":"2025-06-06T20:35:43","slug":"average-credit-card-debt-statistics","status":"publish","type":"post","link":"https:\/\/www.lexingtonlaw.com\/blog\/credit-cards\/average-credit-card-debt-statistics.html","title":{"rendered":"Average U.S. credit card debt statistics to know in 2023"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"570\" height=\"189\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2019\/06\/hands-exchanging-credit-card.jpg\" alt=\"\" class=\"wp-image-12750\"\/><\/figure>\n\n\n\n<p><em>The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. <\/em><a href=\"https:\/\/www.lexingtonlaw.com\/disclaimer\" target=\"_blank\" rel=\"noreferrer noopener\"><em>See Lexington Law\u2019s editorial disclosure for more information.<\/em><\/a><\/p>\n\n\n\n<p class=\"has-white-color has-text-color has-background has-link-color wp-elements-c4f194822ff1622ed43e44b2277d85ce\" style=\"background-color:#00204f\">On average, each American carries $5,010 in credit card debt as of early 2022, according to TransUnion\u00ae. Alaskans have the highest credit card balance, with an average of $7,758 per person.<\/p>\n\n\n\n<p>With inflation and interest rates on the rise in America, so is credit card debt. <a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/hhdc.html\" target=\"_blank\" rel=\"noreferrer noopener\">American credit card debt<\/a> is now at $986 billion, which is higher than the pre-pandemic spike of $927 billion. Due to these and other financial stressors, people have turned to credit cards more than ever to help cover costs.<\/p>\n\n\n\n<p>We can look at the credit card debt statistics in the United States and see that inflation and cost of living increases are affecting the economy. The average American credit card debt increased by 13.2 percent from September 2021 to September 2022, <a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/consumer-credit-review\/\" target=\"_blank\" rel=\"noreferrer noopener\">according to Experian<sup>\u00ae<\/sup><\/a>.<\/p>\n\n\n\n<p>Today, we\u2019ll look at the latest data for the average credit card debt in America by state and demographics, such as age and income. You\u2019ll also learn how this information can help you <a href=\"https:\/\/www.lexingtonlaw.com\/education\/improve-credit-score\" target=\"_blank\" rel=\"noreferrer noopener\">improve your credit score<\/a> and your overall financial future.<\/p>\n\n\n\n<p><strong>Note:<\/strong> we reference the most updated data available, but sometimes that information is from several years ago\u2014check each individual source for specifics.<\/p>\n\n\n\n<p><strong>Table of contents<\/strong><\/p>\n\n\n\n<ol>\n<li><a href=\"#key-debt-statistics\">Key credit card debt statistics<\/a><\/li>\n\n\n\n<li><a href=\"#top-10-states-least\">Top 10 states with the least credit card debt<\/a><\/li>\n\n\n\n<li><a href=\"#top-10-states-most\">Top 10 states with the most credit card debt<\/a><\/li>\n\n\n\n<li><a href=\"#general-statistics\">General credit card debt statistics<\/a><\/li>\n\n\n\n<li><a href=\"#average-by-state\">Average credit card debt by state<\/a><\/li>\n\n\n\n<li><a href=\"#average-household-debt\">Average household credit card debt<\/a><\/li>\n\n\n\n<li><a href=\"#average-by-age\">Average credit card debt by age<\/a><\/li>\n\n\n\n<li><a href=\"#average-by-income\">Average credit card debt by income<\/a><\/li>\n\n\n\n<li><a href=\"#average-by-race\">Average credit card debt by race or ethnicity<\/a><\/li>\n\n\n\n<li><a href=\"#delinquency-rates\">Delinquency rates in America<\/a><\/li>\n\n\n\n<li><a href=\"#average-interest-rising\">Average interest rates are rising<\/a><\/li>\n\n\n\n<li><a href=\"#how-to-get-out\">How to get out of credit card debt<\/a><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"key-debt-statistics\">Key credit card debt statistics<\/h2>\n\n\n\n<p>Some of the most interesting findings for credit card debt using the most recent data from TransUnion<sup>\u00ae<\/sup> include:<\/p>\n\n\n\n<ul>\n<li>Credit card debt in the U.S. increased by $61 billion and is now a total of $986 billion. (<a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/hhdc.html\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve Bank of New York<\/a>)<\/li>\n\n\n\n<li>The average U.S. credit card debt is a balance of $5,910 per person. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/consumer-credit-review\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n\n\n\n<li>Between Q1 2019 and Q1 2022, the total number of credit cards in America has risen by almost 8 percent to 492.5 million. (<a href=\"https:\/\/www.transunion.com\/blog\/q1-2022-quarterly-credit-industry-insights-report\" target=\"_blank\" rel=\"noreferrer noopener\">TransUnion<\/a>)<\/li>\n\n\n\n<li>The average FICO<sup>\u00ae<\/sup> credit score for all generations rose by three points to 714 between 2020 and 2021. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/what-is-the-average-credit-score-in-the-u-s\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n\n\n\n<li>In Q1 2022, credit card holders were paying more than the minimum at an average of $328 per month compared to $307 per month in Q1 2018. (<a href=\"https:\/\/www.transunion.com\/blog\/q1-2022-quarterly-credit-industry-insights-report\" target=\"_blank\" rel=\"noreferrer noopener\">TransUnion<\/a>)<\/li>\n\n\n\n<li>The average max limit for new credit cards is $4,634, which has increased by 21.6 percent in 2021. (<a href=\"https:\/\/www.transunion.com\/blog\/q1-2022-quarterly-credit-industry-insights-report\" target=\"_blank\" rel=\"noreferrer noopener\">TransUnion<\/a>)<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"460\" height=\"727\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2023\/05\/image-5.png\" alt=\"\" class=\"wp-image-19605\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-10-states-least\">Top 10 states with the least credit card debt<\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/research\/consumer-debt-study\/\" target=\"_blank\" rel=\"noreferrer noopener\">2022 Experian report<\/a> tracking debt changes from 2021 to 2022 found that many states increased balances. Two states that saw the lowest increase in debt year over year were Oklahoma and Connecticut. Oklahoma increased its average debt by only 0.5 percent, and Connecticut\u2019s debt increased by 0.9 percent.<\/p>\n\n\n\n<p>The most recent data for average <a href=\"https:\/\/www.lexingtonlaw.com\/education\/how-to-manage-credit-cards\" target=\"_blank\" rel=\"noreferrer noopener\">credit card debt<\/a> by state in 2022 comes from Credit Karma, using <a href=\"https:\/\/www.creditkarma.com\/insights\/i\/average-credit-card-debt#methodology\" target=\"_blank\" rel=\"noreferrer noopener\">data from over 73 million<\/a> of its members.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"585\" height=\"842\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2022\/08\/image-10.png\" alt=\"\" class=\"wp-image-18847\"\/><\/figure>\n\n\n\n<table class=\"cutout-table\">\n    <thead>\n        <tr>\n            <th><\/th>\n            <th>State<\/th>\n            <th>Average credit card debt<\/th>\n        <\/tr>\n    <\/thead>\n    <tbody>\n        <tr>\n            <td>1<\/td>\n            <td>Mississippi<\/td>\n            <td>$5,041<\/td>\n        <\/tr>\n        <tr>\n            <td>2<\/td>\n            <td>Kentucky<\/td>\n            <td>$5,234<\/td>\n        <\/tr>\n        <tr>\n            <td>3<\/td>\n            <td>Wisconsin<\/td>\n            <td>$5,341<\/td>\n        <\/tr>\n        <tr>\n            <td>4<\/td>\n            <td>Indiana<\/td>\n            <td>$5,353<\/td>\n        <\/tr>\n        <tr>\n            <td>5<\/td>\n            <td>Arkansas<\/td>\n            <td>$5,377<\/td>\n        <\/tr>\n        <tr>\n            <td>6<\/td>\n            <td>Alabama<\/td>\n            <td>$5,440<\/td>\n        <\/tr>\n        <tr>\n            <td>7<\/td>\n            <td>Idaho<\/td>\n            <td>$5,455<\/td>\n        <\/tr>\n        <tr>\n            <td>8<\/td>\n            <td>West Virginia<\/td>\n            <td>$5,464<\/td>\n        <\/tr>\n        <tr>\n            <td>9<\/td>\n            <td>Iowa<\/td>\n            <td>$5,496<\/td>\n        <\/tr>\n        <tr>\n            <td>10<\/td>\n            <td>Michigan<\/td>\n            <td>$5,547<\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-10-states-most\">Top 10 states with the most credit card debt<\/h2>\n\n\n\n<p>Using the same 2021 to 2022 data from Experian, the state that saw the highest increase of debt year over year was Idaho, whose credit card debt increased by 9.3 percent. <\/p>\n\n\n\n<p>The individualized state data from Credit Karma\u2019s 2022 report shows the following:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"585\" height=\"842\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2022\/08\/image-11.png\" alt=\"\" class=\"wp-image-18848\"\/><\/figure>\n\n\n\n<table class=\"cutout-table\">\n    <thead>\n        <tr>\n            <th><\/th>\n            <th>State<\/th>\n            <th>Average credit card debt<\/th>\n        <\/tr>\n    <\/thead>\n    <tbody>\n        <tr>\n            <td>1<\/td>\n            <td>Alaska<\/td>\n            <td>$7,758<\/td>\n        <\/tr>\n        <tr>\n            <td>2<\/td>\n            <td>Hawaii<\/td>\n            <td>$7,167<\/td>\n        <\/tr>\n        <tr>\n            <td>3<\/td>\n            <td>New Jersey<\/td>\n            <td>$6,982<\/td>\n        <\/tr>\n        <tr>\n            <td>4<\/td>\n            <td>Maryland<\/td>\n            <td>$6,930<\/td>\n        <\/tr>\n        <tr>\n            <td>5<\/td>\n            <td>Virginia<\/td>\n            <td>$6,909<\/td>\n        <\/tr>\n        <tr>\n            <td>6<\/td>\n            <td>Connecticut<\/td>\n            <td>$6,751<\/td>\n        <\/tr>\n        <tr>\n            <td>7<\/td>\n            <td>New York<\/td>\n            <td>$6,709<\/td>\n        <\/tr>\n        <tr>\n            <td>8<\/td>\n            <td>California<\/td>\n            <td>$6,651<\/td>\n        <\/tr>\n        <tr>\n            <td>9<\/td>\n            <td>Washington<\/td>\n            <td>$6,576<\/td>\n        <\/tr>\n        <tr>\n            <td>10<\/td>\n            <td>Florida<\/td>\n            <td>$6,524<\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"general-statistics\">General credit card debt statistics<\/h2>\n\n\n\n<p>The <a href=\"https:\/\/www.newyorkfed.org\/newsevents\/news\/research\/2023\/20230216\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve Bank of New York\u2019s most recent data<\/a> shows that the total amount of consumer debt has increased to $16.9 trillion as of Q4 2022. The primary increases were for mortgages, credit card debt and auto loans. With all types of debts increasing, keeping your credit card debt low can help you keep up with your overall debt.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"717\" height=\"593\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2023\/05\/image-6.png\" alt=\"\" class=\"wp-image-19606\"\/><\/figure>\n\n\n\n<ul>\n<li>The average credit card interest rate in Q4 2022 was 19.07 percent. (<a href=\"https:\/\/www.lendingtree.com\/credit-cards\/average-credit-card-interest-rate-in-america\/\" target=\"_blank\" rel=\"noreferrer noopener\">Lending Tree<\/a>)<\/li>\n\n\n\n<li>Those with an exceptional credit score of over 800 had an average utilization rate of less than 7 percent in Q3 2021. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/state-of-credit-cards\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n\n\n\n<li>The average credit card limit for Americans is $30,233. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/state-of-credit-cards\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n\n\n\n<li>The total number of credit card accounts rose by over 3 percent in 2021 to 494.5 million. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/state-of-credit-cards\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n\n\n\n<li>Average credit card utilization in the U.S. stayed at 25 percent during 2020 and 2021, but it was at 29 percent in 2019. (<a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/state-of-credit-cards\/\" target=\"_blank\" rel=\"noreferrer noopener\">Experian<\/a>)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-by-state\">Average credit card debt by state<\/h2>\n\n\n\n<p>Average credit card debt differs between each state. We\u2019ve listed out the average credit card debt for each state according to <a href=\"https:\/\/www.creditkarma.com\/insights\/i\/average-credit-card-debt\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Credit Karma<\/a>.<\/p>\n\n\n\n<div class=\"table-wrap\" style=\"height: 387px; overflow-y: scroll; overflow-x: hidden;\">\n    <table class=\"cutout-table\">\n        <thead style=\"position: sticky; top: 0; background: white;\">\n            <tr>\n                <th><\/th>\n                <th>State<\/th>\n                <th>Average credit card debt<\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr>\n                <td>1<\/td>\n                <td>Alabama<\/td>\n                <td>$5,440<\/td>\n            <\/tr>\n            <tr>\n                <td>2<\/td>\n                <td>Alaska<\/td>\n                <td>$7,758<\/td>\n            <\/tr>\n            <tr>\n                <td>3<\/td>\n                <td>Arizona<\/td>\n                <td>$5,930<\/td>\n            <\/tr>\n            <tr>\n                <td>4<\/td>\n                <td>Arkansas<\/td>\n                <td>$5,377<\/td>\n            <\/tr>\n            <tr>\n                <td>5<\/td>\n                <td>California<\/td>\n                <td>$6,651<\/td>\n            <\/tr>\n            <tr>\n                <td>6<\/td>\n                <td>Colorado<\/td>\n                <td>$6,406<\/td>\n            <\/tr>\n            <tr>\n                <td>7<\/td>\n                <td>Connecticut<\/td>\n                <td>$6,751<\/td>\n            <\/tr>\n            <tr>\n                <td>8<\/td>\n                <td>Delaware<\/td>\n                <td>$6,168<\/td>\n            <\/tr>\n            <tr>\n                <td>9<\/td>\n                <td>Florida<\/td>\n                <td>$6,524<\/td>\n            <\/tr>\n            <tr>\n                <td>10<\/td>\n                <td>Georgia<\/td>\n                <td>$6,309<\/td>\n            <\/tr>\n            <tr>\n                <td>11<\/td>\n                <td>Hawaii<\/td>\n                <td>$7,167<\/td>\n            <\/tr>\n            <tr>\n                <td>12<\/td>\n                <td>Idaho<\/td>\n                <td>$5,455<\/td>\n            <\/tr>\n            <tr>\n                <td>13<\/td>\n                <td>Illinois<\/td>\n                <td>$6,296<\/td>\n            <\/tr>\n            <tr>\n                <td>14<\/td>\n                <td>Indiana<\/td>\n                <td>$5,353<\/td>\n            <\/tr>\n            <tr>\n                <td>15<\/td>\n                <td>Iowa<\/td>\n                <td>$5,496<\/td>\n            <\/tr>\n            <tr>\n                <td>16<\/td>\n                <td>Kansas<\/td>\n                <td>$5,878<\/td>\n            <\/tr>\n            <tr>\n                <td>17<\/td>\n                <td>Kentucky<\/td>\n                <td>$5,234<\/td>\n            <\/tr>\n            <tr>\n                <td>18<\/td>\n                <td>Louisiana<\/td>\n                <td>$5,621<\/td>\n            <\/tr>\n            <tr>\n                <td>19<\/td>\n                <td>Maine<\/td>\n                <td>$5,580<\/td>\n            <\/tr>\n            <tr>\n                <td>20<\/td>\n                <td>Maryland<\/td>\n                <td>$6,930<\/td>\n            <\/tr>\n            <tr>\n                <td>21<\/td>\n                <td>Massachusetts<\/td>\n                <td>$6,407<\/td>\n            <\/tr>\n            <tr>\n                <td>22<\/td>\n                <td>Michigan<\/td>\n                <td>$5,547<\/td>\n            <\/tr>\n            <tr>\n                <td>23<\/td>\n                <td>Minnesota<\/td>\n                <td>$5,869<\/td>\n            <\/tr>\n            <tr>\n                <td>24<\/td>\n                <td>Mississippi<\/td>\n                <td>$5,041<\/td>\n            <\/tr>\n            <tr>\n                <td>25<\/td>\n                <td>Missouri<\/td>\n                <td>$5,612<\/td>\n            <\/tr>\n            <tr>\n                <td>26<\/td>\n                <td>Montana<\/td>\n                <td>$5,762<\/td>\n            <\/tr>\n            <tr>\n                <td>27<\/td>\n                <td>Nebraska<\/td>\n                <td>$5,929<\/td>\n            <\/tr>\n            <tr>\n                <td>28<\/td>\n                <td>Nevada<\/td>\n                <td>$6,250<\/td>\n            <\/tr>\n            <tr>\n                <td>29<\/td>\n                <td>New Hampshire<\/td>\n                <td>$6,295<\/td>\n            <\/tr>\n            <tr>\n                <td>30<\/td>\n                <td>New Jersey<\/td>\n                <td>$6,982<\/td>\n            <\/tr>\n            <tr>\n                <td>31<\/td>\n                <td>New Mexico<\/td>\n                <td>$5,642<\/td>\n            <\/tr>\n            <tr>\n                <td>32<\/td>\n                <td>New York<\/td>\n                <td>$6,709<\/td>\n            <\/tr>\n            <tr>\n                <td>33<\/td>\n                <td>North Carolina<\/td>\n                <td>$5,751<\/td>\n            <\/tr>\n            <tr>\n                <td>34<\/td>\n                <td>North Dakota<\/td>\n                <td>$6,064<\/td>\n            <\/tr>\n            <tr>\n                <td>35<\/td>\n                <td>Ohio<\/td>\n                <td>$5,612<\/td>\n            <\/tr>\n            <tr>\n                <td>36<\/td>\n                <td>Oklahoma<\/td>\n                <td>$5,790<\/td>\n            <\/tr>\n            <tr>\n                <td>37<\/td>\n                <td>Oregon<\/td>\n                <td>$5,844<\/td>\n            <\/tr>\n            <tr>\n                <td>38<\/td>\n                <td>Pennsylvania<\/td>\n                <td>$5,918<\/td>\n            <\/tr>\n            <tr>\n                <td>39<\/td>\n                <td>Rhode Island<\/td>\n                <td>$6,229<\/td>\n            <\/tr>\n            <tr>\n                <td>40<\/td>\n                <td>South Carolina<\/td>\n                <td>$5,789<\/td>\n            <\/tr>\n            <tr>\n                <td>41<\/td>\n                <td>South Dakota<\/td>\n                <td>$5,734<\/td>\n            <\/tr>\n            <tr>\n                <td>42<\/td>\n                <td>Tennessee<\/td>\n                <td>$5,595<\/td>\n            <\/tr>\n            <tr>\n                <td>43<\/td>\n                <td>Texas<\/td>\n                <td>$6,437<\/td>\n            <\/tr>\n            <tr>\n                <td>44<\/td>\n                <td>Utah<\/td>\n                <td>$5,750<\/td>\n            <\/tr>\n            <tr>\n                <td>45<\/td>\n                <td>Vermont<\/td>\n                <td>$5,722<\/td>\n            <\/tr>\n            <tr>\n                <td>46<\/td>\n                <td>Virginia<\/td>\n                <td>$6,909<\/td>\n            <\/tr>\n            <tr>\n                <td>47<\/td>\n                <td>Washington<\/td>\n                <td>$6,576<\/td>\n            <\/tr>\n            <tr>\n                <td>48<\/td>\n                <td>West Virginia<\/td>\n                <td>$5,464<\/td>\n            <\/tr>\n            <tr>\n                <td>49<\/td>\n                <td>Wisconsin<\/td>\n                <td>$5,341<\/td>\n            <\/tr>\n            <tr>\n                <td>50<\/td>\n                <td>Wyoming<\/td>\n                <td>$6,111<\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-household-debt\">Average household credit card debt<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.nerdwallet.com\/blog\/average-credit-card-debt-household\/\" target=\"_blank\" rel=\"noreferrer noopener\">NerdWallet conducted a 2022 survey<\/a> and found that the average household credit card debt is $5,944, not much higher than the individual average TransUnion reported of $5,010. This may mean that households are sharing credit cards, keeping a minimal amount of cards, or just being very mindful of their spending.<\/p>\n\n\n\n<ul>\n<li>Household credit card debt increased by 15.25 percent between 2021 and 2022. (<a href=\"https:\/\/www.nerdwallet.com\/blog\/average-credit-card-debt-household\/\" target=\"_blank\" rel=\"noreferrer noopener\">NerdWallet<\/a>)<\/li>\n\n\n\n<li>The increase in debt has led to increased interest charges. (<a href=\"https:\/\/www.nerdwallet.com\/blog\/average-credit-card-debt-household\/\" target=\"_blank\" rel=\"noreferrer noopener\">NerdWallet<\/a>)<\/li>\n\n\n\n<li>Over 180 million credit accounts were closed in Q4 2021. (<a href=\"https:\/\/www.newyorkfed.org\/medialibrary\/interactives\/householdcredit\/data\/pdf\/hhdc_2021q4.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve Bank of New York<\/a>)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-by-age\">Average credit card debt by age<\/h2>\n\n\n\n<p>The Credit Karma survey also collected the average amount of credit card debt by generation to see which age group has the most and least credit card debt.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"585\" height=\"517\" src=\"https:\/\/www.lexingtonlaw.com\/blog\/wp-content\/uploads\/2022\/08\/image-13.png\" alt=\"\" class=\"wp-image-18850\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-by-income\">Average credit card debt by income<\/h2>\n\n\n\n<p>The most recent data for credit card debt by income is from a 2019 survey conducted by the <a href=\"https:\/\/www.federalreserve.gov\/econres\/scfindex.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve<\/a>. A lot has changed since 2019 with the pandemic starting in 2020, but data from the survey found the following:<\/p>\n\n\n\n<table class=\"cutout-table\">\n    <thead>\n        <tr style=\"border-top-width: 0;\">\n            <th style=\"padding: 1.6rem 0.8rem;border-right: 1px solid #CCC;width: 50%;\">Income range<\/th>\n            <th style=\"padding: 1.6rem 0.8rem;\">Average credit card debt<\/th>\n        <\/tr>\n    <\/thead>\n    <tbody>\n        <tr>\n            <td>Less than $25,555<\/td>\n            <td>$3,800<\/td>\n        <\/tr>\n        <tr>\n            <td>$25,555 to $49,000<\/td>\n            <td>$4,700<\/td>\n        <\/tr>\n        <tr>\n            <td>$50,000 to $78,000<\/td>\n            <td>$4,900<\/td>\n        <\/tr>\n        <tr>\n            <td>$79,526 to $126,000<\/td>\n            <td>$7,000<\/td>\n        <\/tr>\n        <tr>\n            <td>$130,000 to $175,847<\/td>\n            <td>$9,700<\/td>\n        <\/tr>\n        <tr>\n            <td>$184,200 to $475,116 and above<\/td>\n            <td>$12,600<\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\n\n\n<p>The subsequent <a href=\"https:\/\/www.federalreserve.gov\/scf\/scf.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Reserve survey<\/a> took place March \u2013 December 2022. This survey should be available later this year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-by-race\">Average credit card debt by race or ethnicity<\/h2>\n\n\n\n<p>The Federal Reserve\u2019s survey also generated data for credit card debt by race or ethnicity. As the United States works toward more social justice and equality, this information can be extremely helpful.<\/p>\n\n\n\n<table class=\"cutout-table\">\n    <thead>\n        <tr style=\"border-top-width: 0;\">\n            <th style=\"padding: 1.6rem 0.8rem;border-right: 1px solid #CCC;width: 50%;\">Race<\/th>\n            <th style=\"padding: 1.6rem 0.8rem;\">Average credit card debt<\/th>\n        <\/tr>\n    <\/thead>\n    <tbody>\n        <tr>\n            <td>White (non-Hispanic)<\/td>\n            <td>$6,900<\/td>\n        <\/tr>\n        <tr>\n            <td>Black or African American (non-Hispanic)<\/td>\n            <td>$3,900<\/td>\n        <\/tr>\n        <tr>\n            <td>Hispanic or Latino<\/td>\n            <td>$5,500<\/td>\n        <\/tr>\n        <tr>\n            <td>Other or multiple races<\/td>\n            <td>$6,300<\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"delinquency-rates\">Delinquency rates in America<\/h2>\n\n\n\n<p>Credit card delinquencies are when a person is at least 30 days past due. This can lead to late fees and the inability to increase the card\u2019s max limit. Delinquency can also lead to an individual\u2019s credit score dropping and can make it difficult for them to acquire new lines of credit or loans.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.experian.com\/blogs\/ask-experian\/consumer-credit-review\/#s2\" target=\"_blank\" rel=\"noreferrer noopener\">Experian\u2019s report<\/a> tracked delinquency rate changes from 2021 to 2022. Here\u2019s what they found:<\/p>\n\n\n\n<ul>\n<li>The percentage of accounts 30 to 59 days past due increased by 0.63 percent.<\/li>\n\n\n\n<li>The rate of delinquencies between 60 and 89 days increased by 0.43 percent.<\/li>\n\n\n\n<li>The percentage of accounts 90 to 180 days past due increased by 0.29 percent.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-interest-rising\">Average interest rates in America are rising<\/h2>\n\n\n\n<p>The Board of Governors of the Federal Reserve System (BGFRS) tracks banking trends, and this includes credit card interest rates, also known as <a href=\"https:\/\/www.lexingtonlaw.com\/education\/what-is-apr\">annual percentage rates<\/a>. Here\u2019s some of the latest data from their report:<\/p>\n\n\n\n<ul>\n<li>Interest rates were down 0.7 percent from 2020 to 2021. (<a href=\"https:\/\/www.federalreserve.gov\/releases\/g19\/current\/\" target=\"_blank\" rel=\"noreferrer noopener\">BGFRS<\/a>)<\/li>\n\n\n\n<li>Interest rates rose 3.63 percent between December 2021 and May 2022. (<a href=\"https:\/\/www.federalreserve.gov\/releases\/g19\/current\/\" target=\"_blank\" rel=\"noreferrer noopener\">BGFRS<\/a>)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"how-to-get-out\">How to get out of credit card debt<\/h2>\n\n\n\n<p>The average credit card debt in the U.S. is going up, but you can still work on lowering your debt and improving your credit. There are a few simple strategies you can use to help you <a href=\"https:\/\/www.lexingtonlaw.com\/blog\/finance\/how-to-get-out-of-credit-card-debt.html\" target=\"_blank\" rel=\"noreferrer noopener\">get out of credit card debt<\/a>:<\/p>\n\n\n\n<ul>\n<li>Pay off your smallest balance in full each month<\/li>\n\n\n\n<li>Automate your credit card payments<\/li>\n\n\n\n<li>Create a budget and payoff strategy<\/li>\n<\/ul>\n\n\n\n<p>Sometimes, additional debt is due to errors that show you have missed payments when you haven\u2019t. These errors can also hurt your credit, and that\u2019s where Lexington Law Firm can help. Not only do we have a team of consultants who can help you address errors, but we also offer <a href=\"https:\/\/www.lexingtonlaw.com\/our-services\" target=\"_blank\" rel=\"noreferrer noopener\">additional financial services<\/a>. To learn more, reach out to us today for your free credit report consultation.<\/p>\n\n\n\n<p><strong><em><a href=\"https:\/\/lexingtonlaw.com\/disclaimer\" target=\"_blank\" rel=\"noreferrer noopener\">Note:<\/a><\/em><\/strong><em> Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Americans on average carry $5,910 in credit card debt. Take a look at more credit card debt statistics to know in 2023 here.<\/p>\n","protected":false},"author":63,"featured_media":12750,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[516],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v18.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Average U.S. credit card debt statistics to know in 2023<\/title>\n<meta name=\"description\" content=\"Americans on average carry $5,910 in credit card debt. 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