{"id":62160,"date":"2023-09-17T16:17:19","date_gmt":"2023-09-17T20:17:19","guid":{"rendered":"https:\/\/ifintechworld.com\/credit-cards\/states-with-the-highest-credit-card-debt\/"},"modified":"2023-09-17T16:17:23","modified_gmt":"2023-09-17T20:17:23","slug":"states-with-the-highest-credit-card-debt","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62160","title":{"rendered":"States with the highest credit card debt"},"content":{"rendered":"
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Californians are racking up the most credit card debt, according to recent data from personal finance website WalletHub.\u00a0<\/p>\n

Currently, consumers across the nation hold $1 trillion in credit card debt.<\/p>\n

In 2022 alone, $116 billion in new credit card debt was added as inflation continued to weigh on household budgets.\u00a0In the second quarter of 2023, consumers added almost $43 billion, which marks the second-largest increase during that period to date, according to WalletHub.<\/p>\n

For the average household, credit card balances sat at about $10,170 at the end of the second quarter, only $2,242 less than the record set during the fourth quarter of 2007, during the Great Recession. \u00a0<\/p>\n

CREDIT CARD DEBT HITS $1T FOR THE FIRST TIME EVER<\/strong><\/p>\n

WalletHub compared the 50 states based on the latest consumer-finance data available from TransUnion, the Federal Reserve and the Bureau of Labor Statistics, adjusted for inflation.<\/p>\n

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According to the data, the average household in California had nearly $10,000 in credit card debt during the second quarter. Overall, the Golden State had more than $152 billion in credit card debt during the second quarter.\u00a0<\/p>\n

CREDIT CARD DEBT RISING IN DOUBLE-EDGED SWORD FOR THE ECONOMY<\/u><\/strong><\/p>\n

The average Texan household owed about $9,200 in credit card debt during the second quarter, while the total credit card debt in the state reached over $111 billion.\u00a0<\/p>\n

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Florida, New York and Illinois rounded out the five states with the largest credit card debts with totals of over $87 billion, over $79 billion and more than $46 billion, respectively.\u00a0<\/p>\n

Comparatively, Wyoming, Vermont and North Dakota residents held the smallest card debt totals at about $2.09 billion, $2.2 billion and $2.5 billion, respectively.<\/p>\n

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Here are the top ten states with the highest total credit card debt during the second quarter:\u00a0<\/h3>\n
    \n
  1. California: $152,707,028,131<\/li>\n
  2. Texas: $111,299,095,554<\/li>\n
  3. Florida: $87,100,047,481<\/li>\n
  4. New York: $79,608,721,593<\/li>\n
  5. Illinois: $46,785,492,452<\/li>\n
  6. Pennsylvania: $45,638,259,152<\/li>\n
  7. Georgia: $41,132,589,305<\/li>\n
  8. Ohio: $38,478,365,000<\/li>\n
  9. New Jersey: $37,935,342,142<\/li>\n
  10. North Carolina: $36,505,559,579<\/li>\n<\/ol>\n<\/div>\n

    Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Californians are racking up the most credit card debt, according to recent data from personal finance website WalletHub.\u00a0 Currently, consumers across the nation hold $1 trillion in credit card debt. In 2022 alone, $116 billion in new credit card debt was added as inflation continued to weigh on household budgets.\u00a0In the second quarter of 2023, […]<\/p>\n","protected":false},"author":1,"featured_media":62161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[238],"tags":[83],"class_list":["post-62160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","tag-featured"],"yoast_head":"\nStates with the highest credit card debt | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Californians are racking up the most credit card debt, according to recent data from personal finance website WalletHub.\u00a0 Currently, consumers across the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=62160\" \/>\n<meta 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