Personal Finance Statistics

Debt plays a vital role in economic dynamics, influencing personal finances and national economic policies. According to WalletHub's latest data, U.S. households carry an average of $151,252 in debt overall, including $9,821 in credit card debt. In total, U.S. household debt amounts to $18.39 trillion, with credit card debt alone totaling $1.21 trillion.

1. Total Debt Over Time
2. Total Debt by Age
3. Percent of Delinquency by Loan Type
4. Debt-to-Income Ratio
5. Debt Share by Product Type & Age
6. Average Balance by Type of Consumer Debt
7. Average Debt by Generation
8. Average Debt by Credit Score
9. Average Consumer Debt by State

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More than 8 in 10 adults in the U.S. own at least one credit card, and the average person has five different credit card accounts (including store credit cards). The statistics below shed light on credit card ownership and usage patterns among different demographic groups.

Key Stats

• Highest credit card ownership by family income: Income of $100,000 or more (97%)
• Age group with highest credit card ownership: 60+ years (92%)
• Generation with the most credit cards: Baby Boomers and Generation X (4.4 per person)
• State with the most credit cards: New Jersey (4.2 per person)

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The average credit card balance is $11,507 per household, as of Q4 2025. Adjusted for inflation, the average household's balance is actually well below the record high of more than $13,000 at the end of 2007.

Below, you can find additional data on average credit card debt levels over time. Note, when we refer to credit card debt across this page, it means outstanding credit card balances and does not include all the credit card debt that consumers defaulted on and are still liable for.

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The term “financial literacy” has gone from irrelevant to a buzzword peppering the national discourse in only a matter of years, and for good reason. The United States sank into the worst financial downturn since the Great Depression during that time, largely as a result of the risky lending practices and widespread overleveraging of a populace that had and continues to have very little confidence in its own financial acumen.

Below, you can find statistics on financial literacy in the U.S., offering insight into the nation's overall understanding of personal finance.

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Currently, credit card interest rates range from 5.75% to 36% for new applicants. The average interest rate among credit card offers is 22.08%, as of March 2026, the same as the prior month.

The interest rates on existing credit card accounts are a bit lower. For example, people with credit card debt currently pay interest at a 22.30% average annual rate. Below, you can learn more about current credit card interest rates, including how they vary by credit level.

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Credit card companies are the banks and credit unions that issue credit cards to consumers and small business owners. Credit card companies also service cardholders' accounts by billing for purchases, accepting payments, distributing rewards and more.

The four major card networks – Visa, Mastercard, American Express and Discover – are credit card companies, too, though Visa and Mastercard don't issue their own cards. They handle things like payment processing and high-level benefits.

Top 10 Credit Card Companies

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Americans spend billions of dollars on credit card interest and fees each year. In 2024 alone, the total was a staggering $254.16 billion, while the annual average over from the past decade is $154.43 billion, according to our analysis of Federal Financial Institutions Examination Council (FFIEC) and Federal Reserve data. For context, the total amount spent on interest and fees for consumer loans was $970 billion in 2024.

Key Stats

• Total Credit Card Interest and Fees Paid in 2024: $254.16 billion
• Total Credit Card Interest and Fees Paid per Account: $102.93 (2024 Q4)
• State with highest Credit Card Interest and Fees Per Capita in 2024: California ($970.75)

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You can't get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates. These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills. Furthermore, consumers continue to owe charged-off debt for years, which means ignoring such sums will paint a misleading picture of the debt landscape.

1. Credit Card Delinquency and Charge-Off Rates
2. Credit Card Delinquency Rates by Age Group
3. Credit Card Delinquency Rates by State
4. Credit Card Delinquency Rates for Major Card Issuers
5. Charged-Off Credit Card Debt

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Personal loans serve various financial needs, including consolidating debt and funding significant purchases. These loans are generally unsecured, meaning they do not require collateral, and they typically have fixed interest rates as well as repayment periods can span from a few months to several years. Due to their structured repayment schedules and the fact that you can use the money for nearly anything, personal loans are a useful tool for those who can qualify for them.

Below are some critical statistics that highlight different facets of the personal loan market.

Key Stats for Q4 2025

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More than 86% of people have a budget, and 83% of them say that increasing costs are the biggest challenge they face when trying to stick to that budget. In fact, the average American household spent $77,158 in 2024 – a whopping 44% increase from 2014.

With rising costs, having a budget is essential for effectively managing your finances and ensuring you are not spending more than your income. Below, you can check out more budgeting statistics and see how you compare to the average American household.

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