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According to the most recent research, the average American credit card debt is $5,525. The average card balance has decreased by $968 from where it was before the COVID-19 pandemic, and the total U.S. credit card debt has also gone down to $787 billion.
While those are the overall numbers, they vary significantly for different demographics. We've reviewed data from government agencies and credit bureaus to find the average credit card debt by state, age, income, and much more. Keep reading for the full results.
Key findings
- Average American credit card debt:$5,525
- Average credit utilization rate:25.2%
- State with the highest average credit card debt:Alaska ($7,089)
- State with the lowest average credit card debt:Wisconsin ($4,587)
- Generation X has average credit card debt of $7,236,the most of any generation.
- Higher income corresponds to higher average credit card balances,but consumers in the middle income brackets are the most likely to have credit card debt.
- Credit card interest rates have been rising,and the average rate is now 16.2% on interest-bearing accounts.
- Delinquency rates have been steadily decreasing,with the rate of delinquencies of 90 days or more falling the most.
- The average credit card balance has dropped by $968since before the COVID-19 pandemic.
Average American credit card debt
The average American has a credit card balance of $5,525.
Although that's a large amount, it has been dropping over the last two years. The average balance was $6,629 in 2019 and $5,897 in 2020. That data comes from Experian and its yearly State of Credit reports.
U.S. credit card debt as a whole reached an all-time high in 2019. Since peaking at $930 billion in the fourth quarter of that year, it has fallen by over 15%, even though the total U.S. debt has kept going up.
| YEAR | CREDIT CARD DEBT | TOTAL DEBT | CREDIT CARD DEBT PERCENTAGE |
|---|
| 2003 | $693 billion | $7.38 trillion | 9.4% |
| 2004 | $697 billion | $8.46 trillion | 8.2% |
| 2005 | $697 billion | $9.47 trillion | 7.4% |
| 2006 | $739 billion | $10.75 trillion | 6.9% |
| 2007 | $796 billion | $11.85 trillion | 6.7% |
| 2008 | $850 billion | $12.60 trillion | 6.7% |
| 2009 | $824 billion | $12.40 trillion | 6.6% |
| 2010 | $744 billion | $11.94 trillion | 6.2% |
| 2011 | $694 billion | $11.73 trillion | 5.9% |
| 2012 | $668 billion | $11.38 trillion | 5.9% |
| 2013 | $669 billion | $11.15 trillion | 6.0% |
| 2014 | $669 billion | $11.63 trillion | 5.8% |
| 2015 | $703 billion | $11.85 trillion | 5.9% |
| 2016 | $729 billion | $12.29 trillion | 5.9% |
| 2017 | $784 billion | $12.84 trillion | 6.1% |
| 2018 | $829 billion | $13.29 trillion | 6.2% |
| 2019 | $868 billion | $13.86 trillion | 6.3% |
| 2020 | $817 billion | $14.27 trillion | 5.7% |
| 2021 | $787 billion | $14.96 trillion | 5.3% |
Data source: Federal Reserve Bank of New York (2021). Debt statistics are from the second quarter of each year.
While it has been a very gradual change, credit card debt has become a smaller portion of Americans' totalhousehold debt.
What is the average American credit card debt per household?
The average American credit card debt per household is about $6,125, based on the most recent U.S. credit card debt and household data.
Average credit card debt per household was calculated by dividing U.S. credit card debt in 2021 ($787 billion) by the most recent number of households taken in 2020 (128.45 million).
Average credit card debt by state
Credit card debt numbers vary quite a bit by state. Here's a full list of each state's average credit card balance as of 2021.
| STATE | AVERAGE CREDIT CARD DEBT |
|---|
| Alabama | $5,258 |
| Alaska | $7,089 |
| Arkansas | $4,964 |
| Arizona | $5,414 |
| California | $5,635 |
| Colorado | $5,909 |
| Connecticut | $6,237 |
| Delaware | $5,581 |
| Florida | $5,748 |
| Georgia | $5,822 |
| Hawaii | $6,197 |
| Idaho | $5,025 |
| Illinois | $5,552 |
| Indiana | $4,796 |
| Iowa | $4,587 |
| Kansas | $5,308 |
| Kentucky | $4,772 |
| Louisiana | $5,355 |
| Maine | $4,950 |
| Maryland | $6,164 |
| Massachusetts | $5,448 |
| Michigan | $4,850 |
| Minnesota | $5,115 |
| Mississippi | $4,819 |
| Missouri | $5,117 |
| Montana | $5,223 |
| Nebraska | $4,985 |
| Nevada | $5,651 |
| New Hampshire | $5,496 |
| New Jersey | $6,115 |
| New Mexico | $5,203 |
| New York | $5,754 |
| North Carolina | $5,361 |
| North Dakota | $5,223 |
| Ohio | $4,968 |
| Oklahoma | $5,571 |
| Oregon | $5,124 |
| Pennsylvania | $5,293 |
| Rhode Island | $5,324 |
| South Carolina | $5,523 |
| South Dakota | $5,007 |
| Tennessee | $5,234 |
| Texas | $6,033 |
| Utah | $5,233 |
| Vermont | $4,963 |
| Virginia | $6,189 |
| Washington | $5,684 |
| Washington, D.C. | $6,367 |
| West Virginia | $4,831 |
| Wisconsin | $4,587 |
| Wyoming | $5,584 |
Data source: Experian (email communication, 2021).
States with the highest credit card debt
Alaska has had the highest credit card debt in recent years, and in 2021, it was 28% more than the national average.
- Alaska:$7,089
- Washington, D.C.:$6,367
- Connecticut:$6,237
- Hawaii:$6,197
- Virginia:$6,189
States with the lowest credit card debt
Wisconsin and Iowa both have 17% less credit card debt than the national average, but it's Wisconsin that's the official winner. Before rounding off, its average credit card debt beat Iowa's by a razor-thin margin of $0.08.
- Wisconsin:$4,587
- Iowa:$4,587
- Kentucky:$4,772
- Indiana:$4,796
- Mississippi:$4,819
Average credit card debt by age
Generation X carries the highest average credit card balance at $7,236. That's over $1,000 more than baby boomers, who came in second with an average balance of $6,230.
The lowest average credit card debt by age was Generation Z with $2,312. Since young adults have lower incomes on average, they also have a loweraverage credit limit, which at least helps with avoiding credit card debt.
| GENERATION | AVERAGE CREDIT CARD DEBT |
|---|
| Generation Z | $2,312 |
| Millennials | $4,569 |
| Generation X | $7,236 |
| Baby Boomers | $6,230 |
| Silent Generation | $3,821 |
Data source: Experian (2021).
Average credit card debt for college students
College students have an average credit card debt of $1,183.
Because students are often on a tight budget, their credit card balances are much lower than the average. Even though that's a good sign, a lower-than-average balance can still be difficult to pay off when you have a limited income.
| YEAR | AVERAGE CREDIT CARD DEBT, COLLEGE STUDENTS |
|---|
| 2016 | $903 |
| 2019 | $1,183 |
Data source: Sallie Mae (2019).
Average credit card debt by income
Americans in higher income brackets carry higher credit card balances on average.
However, it's the middle class and the upper-middle class that's more likely to have credit card debt. Among Americans in the 60th through 79th income percentiles, 56.8% have credit card debt. Those in the 40th through 59th income percentile weren't far behind, as 55% have credit card debt.
It's the Americans in the highest (90th to 100th) and lowest (under 20th) income percentiles who are least likely to carry a balance. Less than a third of each group has credit card debt.
| INCOME PERCENTILE | MEDIAN ANNUAL INCOME | AVERAGE CREDIT CARD DEBT | PERCENTAGE WITH CREDIT CARD DEBT |
|---|
| Less than 20 | $16,290 | $3,830 | 30.5% |
| 20–39 | $35,630 | $4,650 | 45.6% |
| 40–59 | $59,050 | $4,910 | 55.0% |
| 60–79 | $95,700 | $6,990 | 56.8% |
| 80–89 | $151,700 | $9,780 | 45.9% |
| 90–100 | $290,160 | $12,600 | 32.2% |
Data source: Federal Reserve Survey of Consumer Finances (2020).
Editor's note: Data from the Survey of Consumer Finances was collected in 2019, and is the most recent available from the Federal Reserve.
Average credit card debt by level of education
Average credit card debt is higher for Americans with higher levels of education.
College graduates have the highest average credit card debt at $7,940. On the other hand, those with no high school diploma have $3,390 in average credit card debt.
The most reasonable explanation for this is each group's respective income. Median income increases at each level of education. As an example, Americans with a bachelor's degree earn over twice as much as Americans with no high school diploma. Higher income, as we saw earlier, corresponds to higher credit card debt.
| EDUCATIONAL ATTAINMENT | AVERAGE CREDIT CARD DEBT |
|---|
| College degree | $7,940 |
| Some college | $6,210 |
| High school diploma | $4,940 |
| No high school diploma | $3,390 |
| All families | $6,270 |
Data source: Federal Reserve Survey of Consumer Finances (2020).
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