Which States Have the Most Credit Card Debt?
The latest credit card debt statistics from Experian indicate that consumers in some states are starting to carry larger credit card balances once again, despite a slight improvement between 2012 and 2013.
The average outstanding credit card debt in America was $3,658 per person during the first quarter of 2014. This represented a $27 drop in the national average when compared to year ago levels.
Here are the top 10 states with the most credit card debt:
- Alaska – $4,472
- New Jersey – $4,431
- Connecticut – $4,351
- Maryland – $4,214
- Georgia – $4,192
- Delaware – $4,165
- District of Columbia – $4,115
- Virginia – $4,068
- Rhode Island – $4,056
- Texas – $4,047
The state that saw the biggest overall change was Oregon. The average credit card balance dropped $102 between the first quarter 2014 and the same period in 2013. Oregon has seen a decline of $192 per person since the start of 2012.
Even though some states are on the right track, there are many that still far exceed the national average. Some states are as much as 18% above the national average, with others as far as 23% below.
In general, the states with the highest average credit card balances are located along the East Coast.
Alaskans have reduced their average debt by $200 since 2012, but they remain the most indebted state.