How Much Credit Card Debt do Americans Hold?

The average American household is carrying $6,354 in credit card debt — an 8.6 percent increase compared to last year. That’s according to credit reporting agency Experian. A separate study from ValuePenguin found an average credit card debt of $5,700 per household and indicated that 38.1 percent of all American households have credit card debt. The study also found that the total outstanding consumer debt in the U.S. was $3.9 trillion as of September 2017.

In both surveys, the northeast and the west coast are the areas with the highest average debt, but Alaska took the number one spot nationwide. Alaska has a high cost of living, in part because its remote location makes shipping goods more expensive. National Debt Relief attributes Alaska’s pervasive consumer debt to the cost of living along with a high unemployment rate (and a prevalence of seasonal work) leaving consumers with a higher dependence on credit cards. Washington, North Dakota, Indiana, Utah, and Wyoming had some of the lowest levels of debt.

See our map below of the states with the highest and lowest credit card debt. The darker the shade of red, the higher amount of debt in that state.

Total household debt in the fourth quarter of 2017, including credit card debt, hit $13.15 trillion, according to a report from the Federal Reserve Bank of New York.

See National Debt Relief’s list of states by debt below, or click here. ValuePenguin’s list can be seen here.

 

Image Source: Image, License Summary.

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