Credit card debt is a key indicator of how healthy U.S. households are financially. The average credit card balance is $10,170 per household, which is $2,242 below the all-time record, according to WalletHub’s latest Credit Card Debt Study. All debt amounts on this page are adjusted for inflation, to allow for proper comparison against historical data.
Key Credit Card Debt Statistics
- Total Debt: $1.20 trillion
- Household Average: $10,170
- Household Record: $12,412 (Q4 2007)
- Average APR on Debt: 22.16%
- Delinquency Rate: 2.58% of accounts are 30+ days delinquent
- Charge-Off Rate: 3.38% of accounts are charged-off
- End-of-Year Projection: $150 billion increase in total debt
Total Credit Card Debt Over Time
Total credit card debt hit a record in absolute terms during Q2 2023.
Credit Card Debt by Household
When you adjust for inflation, it’s clear the average household’s balance is not a record.
Credit Card Debt by State
Even in states with relatively little credit card debt, it will take 11+ months to pay off the median credit card balance, assuming an average APR and monthly payment amount.
States with the Most Credit Card Debt
| State | Median Credit-Card Debt | Months & Days Until Payoff |
|---|---|---|
| Alaska | $3,517 | 17 months and 14 days |
| District of Columbia | $3,290 | 15 months and 7 days |
| Colorado | $3,106 | 15 months and 4 days |
| New Hampshire | $2,793 | 14 months and 13 days |
| Vermont | $2,515 | 14 months and 12 days |
| Washington | $2,911 | 14 months and 8 days |
| Oregon | $2,615 | 14 months and 5 days |
| Wyoming | $2,647 | 13 months and 26 days |
| Virginia | $2,867 | 13 months and 25 days |
| Arizona | $2,778 | 13 months and 24 days |
States with the Least Credit Card Debt
| State | Median Credit-Card Debt | Months & Days Until Payoff |
|---|---|---|
| North Carolina | $2,645 | 12 months and 10 days |
| Hawaii | $2,936 | 12 months and 9 days |
| Indiana | $2,322 | 12 months and 6 days |
| Arkansas | $2,360 | 11 months and 29 days |
| Ohio | $2,375 | 11 months and 27 days |
| Iowa | $2,077 | 11 months and 21 days |
| Pennsylvania | $2,439 | 11 months and 15 days |
| Kentucky | $2,230 | 11 months and 13 days |
| Mississippi | $2,304 | 11 months and 8 days |
| West Virginia | $2,131 | 11 months and 3 days |
See the complete rankings for the states with the most and least credit card debt.
Credit Card Debt by Age
People ages 30-59 have an average of 131.47% more credit card debt than their older and younger counterparts. Below, you can see the latest averages by age group.
- 70+ years old: $1,481
- 60-69 years old: $2,535
- 50-59 years old: $3,777
- 40-49 years old: $4,384
- 30-39 years old: $3,746
- 18-29 years old: $1,128
See historical data for credit card debt levels by age.
Interest Rates on Credit Card Debt
Consumers with credit card debt are now paying interest at an annual rate in excess of 20%. As a result, balance transfer credit card offers with 0% introductory APRs are more valuable than ever.
See data for previous years’ credit card interest rates.
Number of Accounts With Credit Card Debt
There are 441 million credit card accounts, of which 191 million accounts (43.4%) had a revolving balance, carried from month to month, during Q2 2023. This percentage has not changed much in recent years.
Charge-Off & Delinquency Rates
The rates of consumers who are 30+ days late on their credit card bill or who’ve charged-off altogether are trending upward, indicating that minimum payments are becoming harder to make.
See data for previous years’ delinquency and charge-off rates.
Credit Card Debt Survey Stats
WalletHub conducted a nationally representative survey to evaluate how people are dealing with credit card debt. You can find some key statistics below.
- 56% of people say they have more credit card debt than they did 12 months ago.
- 57% of people with credit card debt say it will take them more than a year to pay it off.
- More than a quarter of Americans admit they’d go into credit card debt for frivolous spending.
- 45% of people say credit card debt makes them feel stressed.
- 85% of Americans say their personal finances are managed better than the federal government.
- More than 1 in 3 Americans with credit card debt say they would do anything to be debt-free.
