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How Much Credit Card Debt Do Americans Have in October 2023? (State Breakdown)

Average Credit Card Debt in America in 2022
Sulaiman Abdur-Rahman
Sulaiman Abdur-RahmanUpdated November 23, 2023
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Millions of Americans continue to struggle with credit card debt. The average credit card debt in America is $6,078 as of October 2023, according to a new report from TransUnion®.Out of the 50 states, Alaska has the highest average credit card debt per consumer ($7,135), while Wisconsin has the lowest ($4,908), data show.More than 6 million cardholders are at least 30 days past due on a minimum payment, according to TransUnion’s credit card delinquency data.Your credit card balance is your credit card debt. Making transactions on your credit card is a liability that eventually needs to be repaid. Below we highlight the average credit card debt in all 50 states and explain why making minimum payments each billing cycle may not be right for you.

The Shocking Truth About Credit Card Debt in the US

Consumer credit card debt in the United States exceeds $1 trillion as of the second quarter (Q2) of 2023, according to the Federal Reserve Bank of New York.The average American credit card debt increased to $6,078 in October 2023 (it was $6,059 in September 2023 and $5,518 in October 2022), according to TransUnion, a nationwide credit bureau.Credit card debt can be costly if you’re paying interest charges. The average interest rate on credit cards is 22.77% as of Q3 2023, according to preliminary Federal Reserve data on credit card accounts assessed interest.

50 State Credit Card Debt Average

TransUnion publishes U.S. credit card debt data every month in all 50 states and the District of Columbia. We’re tracking the data as it becomes available and then ranking the average credit card debt by state in descending order using TransUnion’s recent industry snapshot (October 2023):

District of Columbia

The nation’s capital is not a state, but the District of Columbia has one of the highest average credit card debt balances in the United States. The average credit card debt in Washington, D.C., stands at $7,050 per consumer as of October.

50. Alaska

Alaska is the largest state in the country in terms of its geographical boundaries (586,412 square miles). It also leads all 50 states with the highest average credit card debt in the nation. Cardholders in Alaska have an average credit card balance of $7,135 as of October.

49. Maryland

Maryland sits south of the Mason-Dixon line. This Old Line State has a relatively high credit card debt in the USA. The average credit card debt in Maryland stands at $6,787 per consumer as of October.

48. Hawaii

Hawaii sports tropical climate and active volcanoes. This state of islands in the Pacific is also known for its relatively high average credit card debt. Consumers in the Aloha State have an average credit card balance of $6,782 as of October.

47. Nevada

Nevada may have some issues with gambling debt. This predominantly desert and semiarid state also ranks high in credit card debt. The average credit card debt in Nevada is $6,696 per consumer as of October.

46. New Jersey

New Jersey is the most densely populated state in the United States. The Garden State also has a high average credit card debt. Cardholders in New Jersey have an average credit card balance of $6,664 as of October.

45. Connecticut

Nicknamed the Constitution State, Connecticut has the highest average credit card debt in New England. What is the average credit card debt in Connecticut? It’s $6,584 per consumer as of October.

44. Texas

Texas is one of the largest states in the nation in terms of its geographical boundaries and population. The Lone Star State also has a relatively high average credit card debt in the U.S. The average credit card debt in Texas is $6,559 per consumer as of October.

43. Virginia

Virginia enjoys close proximity to the nation’s capital in a region locally nicknamed DMV (District of Columbia, Maryland, and Virginia). Similar to Maryland and Washington, D.C., consumers in the Old Dominion state carry a relatively high average credit card debt in America. Virginia’s average credit card debt stands at $6,544 per consumer as of October.

42. Colorado

Colorado hosts a large stretch of the Rocky Mountains. The Centennial State also hosts a large amount of credit card debt per consumer. The average credit card debt in Colorado is $6,515 per cardholder as of October.

41. California (tied with Georgia)

California is the most populous state in the nation with more than 38.9 million people as of Jan. 1, 2023. The Golden State also has one of the highest amounts of credit card debt per consumer. The average credit card debt in California is $6,479 per cardholder as of October (tied with Georgia).

41. Georgia (tied with California)

Georgia produces tons of agricultural goods, but the Peach State also has a relatively high level of credit card debt. The average credit card debt in Georgia is $6,479 per consumer as of October (tied with California).

39. Florida

Florida is one of the largest states in the nation in terms of population and economic activity. The Sunshine State has more than 22 million residents and a gross domestic product (GDP) of nearly $1.4 trillion as of 2022. The average credit card debt in Florida is $6,466 per consumer as of October.

38. Washington

Washington state borders the Canadian province of British Columbia and carries a relatively high amount of credit card debt per consumer. The average credit card debt in Washington is $6,358 per cardholder as of October.

37. New York

New York remains one of the largest states in the nation despite its recent decline in population. The average credit card debt in New York is $6,292 per consumer as of October.

36. Arizona

Arizona welcomes domestic and international tourism with its Grand Canyon natural landmark and desert climate. The average credit card debt in Arizona is $6,248 per consumer as of October.

35. Delaware

Delaware is a relatively small state in terms of its geographical boundaries and population. The First State, however, is one of the bigger states in terms of average credit card debt. The average credit card debt in Delaware is $6,159 per consumer as of October.

34. Massachusetts

Massachusetts rests in the heart of New England. The Bay State also has a relatively high amount of credit card debt per consumer. The average credit card debt in Massachusetts is $6,028 per cardholder as of October.

33. Illinois

Illinois enjoys its reputation as the Land of Lincoln. This Midwestern state also has a relatively high amount of credit card debt per consumer. The average credit card debt in Illinois is $5,991 per cardholder as of October.

32. Rhode Island

Rhode Island is the smallest state in the country in terms of its geographical area (1,214 square miles). The average credit card debt in Rhode Island is $5,977 per consumer as of October.

31. New Hampshire

New Hampshire represents one of the smaller states but has a high amount of credit card debt per consumer. The average credit card balance in New Hampshire is $5,923 per cardholder as of October.

30. South Carolina

South Carolina is known for its coastline and beaches. The Palmetto State shares a border with Georgia but has a much smaller scale of credit card debt on average. The average credit card debt in South Carolina is $5,908 per consumer as of October.

29. Oregon

Oregon carries a lower level of credit card debt per consumer than most of the states it borders. The average credit card debt in Oregon is $5,904 per cardholder as of October.

28. Utah

Utah has the Great Salt Lake and a smaller average credit card debt than several of the states it borders. The average credit card debt in Utah is $5,894 per consumer as of October.

27. North Carolina

North Carolina is known for its colleges, universities, and military bases, among other things. (The Tar Heel State has several state-based student loan forgiveness programs.) The average credit card debt in North Carolina is $5,809 per consumer as of October.

26. Louisiana

Louisiana sits along the Gulf Coast in the South. The Pelican State is also known as the Creole State and the Sugar State. The average credit card debt in Louisiana is $5,782 per consumer as of October.

25. Oklahoma

Oklahoma is located in the middle of the 48 contiguous states. The Sooner State is also middle-of-the-pack regarding average credit card debt in America. The average credit card debt in Oklahoma is $5,772 per consumer as of October.

24. Tennessee

Tennessee is well-known for its country music scene. The average credit card balance in Tennessee is $5,657 per cardholder as of October.

23. Pennsylvania

Nicknamed the Keystone State, Pennsylvania has a lower amount of credit card debt per consumer compared with its Mid-Atlantic neighbors of New York and New Jersey. The average credit card debt in Pennsylvania is $5,646 per cardholder as of October.

22. New Mexico

New Mexico has a lower credit card debt per consumer than each of the neighboring states surrounding it. The average credit card debt in New Mexico is $5,644 per cardholder as of October.

21. Montana

Montana is known as America’s Treasure State and Big Sky Country. The average credit card debt in Montana is one of the lowest in the Mountain West region. The average credit card balance in Montana hovers at $5,640 per cardholder as of October.

20. Wyoming

Wyoming has the smallest population in the nation (fewer than 600,000 people). But this Mountain West state has a relatively high amount of credit card debt per consumer. The average credit card debt in Wyoming is $5,637 per cardholder as of October.

19. Idaho

Idaho is nicknamed the Gem State and is known for its potatoes. Average credit card debt per consumer in Idaho is the lowest in the Mountain West region. The average credit card balance in Idaho is $5,629 per cardholder as of October.

18. Alabama

Alabama enjoys a coastline along the Gulf Coast. Known as the Cotton State, Alabama is also known for peanuts. The average credit card debt in Alabama is $5,600 per consumer as of October.

17. Minnesota

Minnesota became the North Star State because of its geographical location in the country’s heartland. The average credit card debt in Minnesota is $5,537 per consumer as of October.

16. Kansas

Kansas markets itself as the Sunflower State. The average credit card balance in Kansas is $5,526 per consumer as of October.

15. Missouri

Missouri is not just any state — it’s the Show Me State. The average credit card debt in Missouri is $5,486 per consumer as of October.

14. North Dakota

North Dakota has multiple nicknames, including the Flickertail State, Sioux State, and the Peace Garden State. The average credit card debt in North Dakota is $5,462 per consumer as of October.

13. Michigan

Michigan hosts several manufacturers of popular car makes and models. It’s also known as the Wolverine State and the Great Lake State. The average credit card debt in Michigan is $5,445 per consumer as of October.

12. Vermont

Vermont is known as the Green Mountain State. The average credit card debt in Vermont is $5,417 per consumer as of October.

11. Ohio

Ohio serves 11.8 million residents as of 2022, making Ohio one of the most populous states in the nation. The Buckeye State also has among the lowest credit card debt per consumer in the United States. The average credit card debt in Ohio is $5,375 per cardholder as of October.

10. Nebraska

Nebraska produces 81.6% of the nation’s great northern beans as of 2022, according to federal data. The average credit card debt balance in Nebraska is $5,338 per consumer as of October.

9. Maine

Maine has relatively low credit card debt per consumer compared with other New England states. The Pine Tree State also has the lowest credit card debt per consumer along the East Coast. The average credit card balance in Maine is $5,295 per cardholder as of October.

8. Mississippi

Mississippi is one of the poorest states in the nation, but the cost of living in the Magnolia State is also among the lowest nationwide. The average credit card debt in Mississippi is $5,254 per consumer as of October.

7. Arkansas

Arkansas — dubbed the Natural State because of its wildlife, bodies of water, and preserved open space — is a Southern state with a relatively low level of credit card debt per consumer. The average credit card debt in Arkansas is $5,229 per cardholder as of October.

6. South Dakota

South Dakota hosts the famous Mount Rushmore National Memorial. The average credit card debt in South Dakota is $5,207 per consumer as of October.

5. Indiana

Indiana is America’s Hoosier State. The average credit card debt in Indiana is $5,163 per consumer as of October — one of the lowest in the nation.

4. Kentucky

Kentucky has a relatively low level of credit card debt per consumer. The average credit card debt in Kentucky is $5,159 per cardholder as of October.

3. West Virginia

West Virginia remains one of the few states that may pay you to move there if you work from home. The average credit card debt in West Virginia is $5,121 per consumer as of October.

2. Iowa

Iowa ranks first in the nation in the production of corn for grain. The average credit card debt in Iowa is $4,955 per consumer as of October.

1. Wisconsin

Wisconsin remains the largest cheese producer in the nation, and consumers in America’s Dairyland have the lowest average credit card balances nationwide. The average credit card debt in Wisconsin is $4,908 per cardholder as of October.

How to Find Out Your Credit Card Balance (And Why It Matters)

You can find out your credit card balance by reading your credit card statement. Your credit card balance matters because it’s your unpaid credit card debt that you are expected to repay as fast or as slow as you wish.The slowest way to pay down credit card debt is to make minimum payments each billing cycle. The fastest way to pay down credit card debt is to pay the full statement balance each billing cycle. Cardholders with a credit card grace period may avoid interest charges on new purchases by paying the statement balance in full each billing cycle.The annual percentage rate (APR) on a credit card can be quite high compared with other consumer lending products. If you make minimum payments each billing cycle, it could take years to pay off the debt and the interest charges could be costly in particular.How much credit card debt does the average American have? The average American credit card balance is $6,078 per consumer as of October 2023, according to TransUnion data.Recommended: Guide to Checking Your Credit Card Balance

Is Carrying a Small Balance Good?

In general, leaving a small balance on your credit card is not the best idea if your goal is to build credit without incurring interest charges.Carrying a small balance may not be right for you if you can afford to pay off your statement balance each billing cycle. Unless you have a 0% introductory APR, you may face interest charges if you pay less than the statement balance.

How To Avoid Credit Card Interest

If your credit card has a grace period, you may avoid credit card interest charges by paying your statement balance in full each billing cycle. You may also want to avoid credit card cash advance transactions if you’re trying to avoid credit card interest charges.

Average American Credit Card Debt Balance

The average American credit card debt balance increased 10.2% year-over-year from October 2022 to October 2023, according to TransUnion, one of the big three credit bureaus.You can calculate the national credit card debt average by taking the total balance across all credit card accounts ($1.03 trillion in Q2 2023) and dividing it by the number of U.S. consumers with a credit card account balance (165.3 million).TransUnion uses a different methodology — a stratified random sample of 5 million consumers — to calculate average credit card debt by state. The $6,078 average credit card balance in October 2023 is a measurement of credit card debt under TransUnion’s calculation method. Cardholders who pay their credit card balance in full each billing cycle may avoid interest charges on new purchases.

Average Credit Card Debt by Risk Tier

Consumers in all risk tiers use credit cards to buy goods and services. The below table highlights the average American credit card balance by risk tier, according to TransUnion data:
Risk tierAverage credit card balance per consumer in October 2023
Super prime (781–850)$3,811
Prime plus (721–780)$7,468
Prime (661–720)$8,877
Near prime (601–660)$8,812
Subprime (300–600)$5,219
Credit card debt exists across all risk scores, but cardholders with bad credit are more likely to experience serious delinquency.According to TransUnion’s credit card debt data by risk tier (October 2023):
  • 20.39% of subprime cardholders fell 90+ days past due
  • 1.26% of near prime cardholders fell 90+ days past due
  • 0.20% of prime cardholders fell 90+ days past due
  • 0.01% of prime plus cardholders fell 90+ days past due
  • 0% of super prime cardholders fell 90+ days past due

What You Need to Know About Credit Card Debt and How to Manage It

While it’s interesting to learn the average credit card debt in the U.S., it doesn’t help you much when you’re struggling to pay down your own credit card debt.Most credit cards are unsecured without collateral. This means credit card account holders typically are not required to make a security deposit. Failing to pay and defaulting on your credit card bills can severely damage your credit.When you make transactions on a credit card, the transaction activity represents an unpaid debt that you’ll eventually have to repay as fast or as slow as you wish. If you’re facing credit card debt challenges, below we highlight some ways you may manage your debt.

3 Tips to Get Out of Credit Card Debt

Here are three tips that may help you reduce credit card debt:

1. Using Balance Transfer Credit Cards

Some credit card issuers offer new applicants 0% introductory APR financing on balance transfers. This enables you to transfer existing credit card debt to a new card and gives you a break from incurring interest charges. And when you transfer balances from multiple cards, you’re consolidating your debt as well, which can make it easier to stay on top of payments since you’ll have just one instead of multiple.Promotional APR offers last a minimum of six months and can extend up to 21 months. Just note that you may incur a balance transfer fee, which is typically 3% to 5% of the amount transferred. With the way credit cards work usually, the balance transfer fee is added to the balance of the new account.The key to utilizing a balance transfer credit card is to pay a portion of your remaining balance each month before you resume swiping at places accepting credit card payments. This ensures that you have the entire balance paid off by the time the promotional rate expires and the standard rate resumes.

2. Getting a Personal Loan to Consolidate Debt

Another option to pay off credit card debt is to use a personal loan to consolidate debt. Personal loans are typically installment loans with fixed monthly payments and a fixed repayment schedule. Approval typically is based on your personal credit history and credit score.If you have good or excellent credit (661+ VantageScore® 4.0), you might be able to qualify for a loan with a lower interest rate than your current credit cards have. When you receive funding from a personal loan, you can use it to pay off your credit card debt, which may have higher interest rates — especially if your APR is above the average credit card interest rate. 

3. Receiving Credit Counseling

You could also look for a credit counseling service that can offer advice on how to manage your credit card debt and pay it off. There are nonprofit credit counselors who can help you to choose from one of many possible solutions, such as credit card debt forgiveness.Credit counseling can also offer general financial education, such as explanations of important credit card definitions and tips on budgeting. Counseling can take place in person, online, or over the phone. You may be able to find nonprofit credit counseling services through a university, military base, credit union, or housing authority.Beware that some vendors may not be legitimate credit counselors. The U.S. Department of Justice maintains a list of approved credit counseling agencies by state. Most of the reputable credit counseling agencies are nonprofit organizations that offer services at local offices, online, or on the phone, according to the Federal Trade Commission.

The Takeaway

Whether you have a large or small amount of credit card debt, paying that balance off as soon as possible may reduce or eliminate your interest costs. When choosing a credit card, consider the card’s standard interest rate, as well as any promotional financing offered on new purchases, balance transfers, or both.Lantern by SoFi can help you find and compare credit cards for building credit. Lantern presents you with multiple options to consider, and you may apply for a credit card with the creditor of your choice.Compare credit-building cards with Lantern.

Frequently Asked Questions

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About the Author

Sulaiman Abdur-Rahman

Sulaiman Abdur-Rahman

Sulaiman Abdur-Rahman writes about personal loans, auto loans, student loans, and other personal finance topics for Lantern. He’s the recipient of more than 10 journalism awards and served as a New Jersey Society of Professional Journalists board member. An alumnus of the Philadelphia-based Temple University, Abdur-Rahman is a strong advocate of the First Amendment and freedom of speech.
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