This credit card debt statistics page tracks Americans’ credit card use each month. We update this page regularly, examining the amount of debt people have, how often they carry a balance from month to month, how frequently they pay their credit card bills late and more.
Credit card debt is a growing problem in America. With rising costs of living and easy access to credit, many Americans end up carrying high credit card balances. But just how much credit card debt does the average American have? Let’s take a look at the numbers.
Key Statistics on Average American Credit Card Debt
Here are some key statistics on credit card debt in America as of 2021:
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The average credit card debt per American adult is $5,525 according to TransUnion data. This is up from $5,332 in 2020.
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The median credit card debt (midpoint of balances) is $2,306 according to the Federal Reserve’s Survey of Consumer Finances.
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Overall, Americans have around $820 billion in total credit card debt according to the Federal Reserve.
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The average credit card interest rate is 16.3%, according to Federal Reserve data. This makes credit card debt expensive to carry.
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29% of Americans carry credit card debt from month-to-month according to the FINRA Investor Education Foundation. This is known as revolving credit card debt.
Breakdown of Credit Card Debt by Age
Credit card debt varies considerably by age group. Here is the breakdown by generation:
- Generation Z (18-24 years old): Average balance of $2,047
- Millennials (25-40 years old): Average balance of $5,148
- Generation X (41-56 years old): Average balance of $7,050
- Baby Boomers (57-75 years old): Average balance of $6,898
- Silent Generation (over 76 years old): Average balance of $2,640
As you can see, Gen Z and the Silent Generation tend to have lower average balances, while middle-aged groups like Gen X carry the highest credit card debt. Millennials and Baby Boomers fall in the middle.
Geographic Variation in Credit Card Debt
The level of credit card debt also varies significantly by state. Here are some of the states with the highest average balances:
- Alaska: $7,384 average balance
- New Jersey: $6,975
- Maryland: $6,437
- Virginia: $6,252
- California: $5,999
And here are some of the lowest average credit card debts by state:
- Iowa: $4,711
- Wisconsin: $4,793
- Kentucky: $4,889
- Mississippi: $4,965
- Indiana: $5,013
As you can see, residents of Alaska and some Northeast states tend to carry much higher credit card balances than Midwestern states like Iowa and Wisconsin.
Trends in Credit Card Debt Over Time
Over the past decade, average credit card debt has fluctuated:
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In 2010, the average credit card debt was $7,126 per borrower according to TransUnion. This decreased after the Great Recession.
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By 2015, the average balance fell to $5,551 as Americans deleveraged.
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But balances crept up again in subsequent years, hitting $5,554 in 2016, $5,739 in 2017, $5,839 in 2018.
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In 2020, average balances spiked to $5,887 before falling slightly in 2021 as stimulus measures helped some pay down debt.
So while average credit card debt today remains below prerecession peaks, it has trended upwards over the past 5-6 years as the economy recovered. Time will tell if balances continue rising.
Breaking Down the $820 Billion in Total Credit Card Debt
As mentioned earlier, Americans have around $820 billion in total revolving credit card debt. Here is how that $820 billion breaks down among card issuers:
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Top 5 banks: Around $542 billion or 66% of total credit card debt
- Chase – $157 billion
- Citi – $109 billion
- Bank of America – $103 billion
- Capital One – $98 billion
- Wells Fargo – $75 billion
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Top 5 retailers: Around $132 billion or 16% of total credit card debt
- Walmart – $37 billion
- Home Depot – $25 billion
- Amazon – $21 billion
- Lowe’s – $19 billion
- Target – $14 billion
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Other lenders: Around $146 billion or 18% of the total
As you can see, the major banks dominate credit card lending, holding around two-thirds of total balances. Retail cards account for around 16% while other miscellaneous lenders hold the remainder.
The Bottom Line
While the median credit card debt is around $2,300, the average debt is over $5,500 per American adult. This debt weighs on millions of households and costs them billions in interest payments each year. The keys are using credit responsibly, paying balances promptly, and seeking lower rate alternatives if you cannot pay off cards. With prudent use, credit cards remain useful financial tools rather than burdensome debt traps.
What percentage of credit cardholders carry a balance?
Fewer than half of adult credit cardholders (46%) carried a balance on a credit card for at least one month in the past year, according to a May 2025 Federal Reserve study.
Job No. 1 for anyone with a credit card is to pay off that balance in full at the end of each month. But we all know that life happens, and that means that it’s not always possible to pay off your credit cards each month.
Federal Reserve data showed that fewer than half (46%) of credit cardholders carried a balance at some point in 2023. That’s down a percentage point from 2023 and two points from 2021 and 2022.
Which states’ residents have the most credit card debt?
Credit cardholders in New Jersey have the highest average credit card debt of any state, according to LendingTree data, while those in Mississippi have the lowest.
| Rank | State | Avg. credit card debt, Q1 2024 | Avg. credit card debt, Q1 2025 | % difference, Q1 24 to Q1 25 |
|---|---|---|---|---|
| 1 | New Jersey | $8,678 | $9,382 | 8.1% |
| 2 | Maryland | $8,537 | $9,252 | 8.4% |
| 3 | Connecticut | $8,983 | $9,201 | 2.4% |
| 4 | Massachusetts | $8,092 | $9,165 | 13.3% |
| 5 | California | $8,271 | $9,096 | 10.0% |
| 6 | Florida | $8,137 | $9,000 | 10.6% |
| 7 | Alaska | $9,123 | $8,914 | -2.3% |
| 8 | District of Columbia | $7,855 | $8,903 | 13.3% |
| 9 | Hawaii | $8,969 | $8,884 | -0.9% |
| 10 | New York | $8,324 | $8,727 | 4.8% |
| 11 | Colorado | $7,973 | $8,719 | 9.4% |
| 12 | New Hampshire | $7,837 | $8,416 | 7.4% |
| 13 | Rhode Island | $7,651 | $8,269 | 8.1% |
| 14 | Virginia | $7,641 | $8,153 | 6.7% |
| 15 | Washington | $7,418 | $8,067 | 8.7% |
| 16 | Texas | $7,633 | $8,042 | 5.4% |
| 17 | Arizona | $7,183 | $8,029 | 11.8% |
| 18 | Georgia | $6,592 | $7,943 | 20.5% |
| 19 | Illinois | $7,219 | $7,916 | 9.7% |
| 20 | Nevada | $7,955 | $7,797 | -2.0% |
| 21 | Delaware | $7,031 | $7,727 | 9.9% |
| 22 | Oregon | $6,750 | $7,484 | 10.9% |
| 23 | Utah | $7,212 | $7,431 | 3.0% |
| 24 | Vermont | $7,294 | $7,410 | 1.6% |
| 25 | Minnesota | $6,628 | $7,179 | 8.3% |
| 26 | Montana | $6,650 | $7,161 | 7.7% |
| 27 | Maine | $7,223 | $7,147 | -1.1% |
| 28 | North Carolina | $6,404 | $7,069 | 10.4% |
| 29 | Idaho | $6,284 | $7,012 | 11.6% |
| 30 | Michigan | $6,242 | $7,004 | 12.2% |
| 31 | South Carolina | $6,196 | $7,002 | 13.0% |
| 32 | Pennsylvania | $6,735 | $6,917 | 2.7% |
| 33 | New Mexico | $6,024 | $6,662 | 10.6% |
| 34 | Kansas | $6,567 | $6,652 | 1.3% |
| 35 | Wyoming | $6,930 | $6,603 | -4.7% |
| 36 | South Dakota | $6,122 | $6,507 | 6.3% |
| 37 | North Dakota | $6,879 | $6,489 | -5.7% |
| 38 | Nebraska | $6,148 | $6,456 | 5.0% |
| 39 | Oklahoma | $5,607 | $6,443 | 14.9% |
| 40 | Ohio | $5,957 | $6,345 | 6.5% |
| 41 | Iowa | $6,575 | $6,230 | -5.2% |
| 42 | Indiana | $5,737 | $6,214 | 8.3% |
| 43 | Missouri | $5,660 | $6,118 | 8.1% |
| 44 | Wisconsin | $6,075 | $6,114 | 0.6% |
| 45 | West Virginia | $5,272 | $5,726 | 8.6% |
| 46 | Alabama | $5,414 | $5,708 | 5.4% |
| 47 | Tennessee | $5,663 | $5,652 | -0.2% |
| 48 | Louisiana | $5,835 | $5,342 | -8.4% |
| 49 | Arkansas | $5,350 | $5,245 | -2.0% |
| 50 | Kentucky | $5,378 | $5,237 | -2.6% |
| 51 | Mississippi | $5,064 | $5,221 | 3.1% |
Source: LendingTree analysis of the anonymized credit reports of more than 350,000 LendingTree users in Q1 2024 and more than 400,000 in Q1 2025. Note: The rank is based on the average credit card debt in Q1 2025.
LendingTree analysts reviewed anonymized credit report data from Q1 2025 for more than 400,000 LendingTree users to calculate these averages and create a list of states with the most debt. We also compared this data to what we found in our Q1 2024 analysis of over 350,000 reports. Overall, the national average card debt among cardholders with unpaid balances in Q1 2025 was $7,321, up 5.8% from $6,921 in Q1 2024. That includes debt from bank cards and retail credit cards.
Six states spread throughout the nation have average balances of at least $9,000. New Jersey leads at $9,382, ahead of Maryland ($9,252) and Connecticut ($9,201). Massachusetts, California and Florida aren’t far behind.
The seven states with the lowest balances are in the South. Mississippi’s balance is $5,221, slightly lower than Kentucky ($5,237) and Arkansas ($5,245).
Georgia has the fastest-growing card debt in the period analyzed. That state’s average card balance grew a troubling 20.5% from Q1 2024 to Q1 2025, rising from $6,592 to $7,943. A dozen other states saw double-digit increases, led by Oklahoma (up 14.9%) and Massachusetts and the District of Columbia (both up 13.3%).
Meanwhile, Louisiana saw the largest year-over-year decrease in debt, with its residents’ debt falling 8.4% from $5,835 to $5,342. In all, 11 states saw credit card balances decrease in the past year. North Dakota (down 5.7%) and Iowa (down 5.2%) joined Louisiana as the only states to see decreases of at least 5.0%.
Do You Have More Debt Than the Average American?
FAQ
How many people have $20,000 in credit card debt?
44% say inflation has “caused them to carry a larger monthly credit card balance.” Of those respondents, 39% have at least $10,000 to $20,000 of credit card debt. That includes 26% of Millennials.
What is the average American credit card debt?
What is the 2/3/4 rule for credit cards?
Is $6,000 in credit card debt a lot?
The average American household has over $6,000 in credit card debt, which can be a challenging amount to manage. If you’re just making minimum payments, expect to stay in credit card debt for many years – about 25 years on $6,000, by our calculations.
What happened to the average credit card balance in 2021?
In 2021, the average credit card balance fell to $5,221, declining 1.8 percent from 2020’s average of $5,315, according to data from Experian. However, due to recent inflation and increased spending on credit cards, the average credit card debt surged to $5,910 in 2022.
How much has credit card debt decreased over the past 5 years?
Over the past five years, the average credit card balance decreased by 10.7% (from Q4 of 2017 to Q4 of 2021). The average American carried $5,589 in credit card debt at the end of 2021. The states with the steepest balance decline were Alaska and Virginia, with a 16% decrease and a 12% decrease, respectively.
How much credit card debt does the average American have?
The average American carried $5,589 in credit card debt at the end of 2021. The states with the steepest balance decline were Alaska and Virginia, with a 16% decrease and a 12% decrease, respectively. When convenience is the priority, credit cards are king.
What is the average credit card debt in 2022?
However, due to recent inflation and increased spending on credit cards, the average credit card debt surged to $5,910 in 2022. Despite the double-digit percent growth from 2021 levels, the 2022 average remained lower than 2019’s balance high of $6,480, says an Experian study that tracked credit card debt from 2017 to 2021.
How does credit card debt compare to other Americans?
If you have credit card debt, you may wonder how your debt compares with that of other Americans. In the third quarter of 2022, the average American had $5,910 of credit card debt, a 13.2% increase from 2021’s average of $5,221, according to the most recent data from Experian®.
Why did credit card interest rates drop in 2021?
Despite data from the Federal Reserve Bank of St. Louis showing an overall increase in credit card interest rates, the average annual amount of credit card interest paid by households carrying balances dropped slightly this year — from $1,155 in 2020 to $1,029 in 2021 — because of an overall reduction in household revolving credit card debt.