What is the average credit card debt in America?
If you have credit card debt, you may be wondering how your debt compares with that of other Americans.
In the third quarter of 2021, the average American had $5,221 of credit card debt—a 2.1% decrease from 2020’s average of $5,315. And thanks to information from the likes of the Federal Reserve and credit bureaus like Experian®, it’s easy to compare credit card debt using a variety of criteria. Read on to learn more about American credit card debt based on location, age and more.
Key takeaways
- Based on location, the average credit card debt in America ranges from $4,285 to $6,617.
- Gen Z has the lowest average credit card debt while Gen X has the highest.
- Americans’ average credit card debt appears to have a direct correlation to education level— higher levels of education mean higher average credit card debt.
- Among ethnicities/races, Black non-Hispanics have the lowest average credit card debt while white non-Hispanics have the highest.
Average credit card debt in America by location
Based on location, the average credit card debt in America ranged from $4,285 to $6,617 in the third quarter of 2021. Indiana was the state with the lowest average credit card debt while Alaska was the state with the highest average credit card debt.
As Experian points out, the average credit card debt dropped from 2020 to 2021 across the vast majority of America. Massachusetts and Washington, D.C. were the only outliers that saw the average credit card debt increase from 2020 to 2021.
| District/State | Average credit card debt |
|---|---|
| Alabama | $4,875 |
| Alaska | $6,617 |
| Arizona | $5,061 |
| Arkansas | $4,670 |
| California | $5,154 |
| Colorado | $5,587 |
| Connecticut | $6,052 |
| Delaware | $5,357 |
| Florida | $5,620 |
| Georgia | $5,604 |
| Hawaii | $5,525 |
| Idaho | $4,539 |
| Illinois | $5,315 |
| Indiana | $4,285 |
| Iowa | $4,528 |
| Kansas | $5,029 |
| Kentucky | $4,408 |
| Louisiana | $5,054 |
| Maine | $4,538 |
| Maryland | $5,911 |
| Massachusetts | $5,232 |
| Michigan | $4,661 |
| Minnesota | $4,754 |
| Mississippi | $4,449 |
| Missouri | $4,865 |
| Montana | $4,778 |
| Nebraska | $4,789 |
| Nevada | $5,373 |
| New Hampshire | $5,251 |
| New Jersey | $5,995 |
| New Mexico | $4,821 |
| New York | $5,473 |
| North Carolina | $5,101 |
| North Dakota | $4,874 |
| Ohio | $4,808 |
| Oklahoma | $5,155 |
| Oregon | $4,630 |
| Pennsylvania | $5,026 |
| Rhode Island | $5,153 |
| South Carolina | $5,176 |
| South Dakota | $4,591 |
| Tennessee | $4,891 |
| Texas | $5,820 |
| Utah | $4,831 |
| Vermont | $4,595 |
| Virginia | $5,864 |
| Washington | $5,231 |
| Washington, D.C. | $5,949 |
| West Virginia | $4,574 |
| Wisconsin | $4,329 |
| Wyoming | $5,159 |
Average American credit card debt by age
When it comes to different age groups, Generation Z—ages 18-24—has the lowest average credit card debt at $2,282. Generation X—ages 41-56—has the highest average credit card debt at $7,070.
Gen Z and Millennials saw their average credit card debt increase from 2020 to 2021—by 11.6% and 5.2%, respectively—while averages dropped for those 41 and older.
| Age | Average credit card debt |
|---|---|
| 18-24 (Generation Z) | $2,282 |
| 25-40 (Millennials) | $4,576 |
| 41-56 (Generation X) | $7,070 |
| 57-75 (baby boomers) | $5,804 |
| 76 and older (silent generation) | $3,177 |
Average American credit card debt by education level
As Bankrate shows, the average credit card debt in America appears to have a direct correlation to education level—the higher the level of education, the higher the average credit card debt. For example, those without a high school diploma had the lowest debt, averaging $3,390. College graduates, on the other hand, had the highest average credit card debt at $7,940.
| Education level | Average credit card debt |
| No high school diploma | $3,390 |
| High school diploma, no college | $4,940 |
| Some college | $6,210 |
| College degree | $7,940 |
Average American credit card debt by ethnicity/race
A Federal Reserve report of data from 2020 through May 2021 shows that the average credit card debt differs across ethnicities and races. Black non-Hispanics had the lowest average credit card debt at $3,940. White non-Hispanics had an average credit card debt of $6,940, which was the highest.
| Ethnicity/race | Average credit card debt |
|---|---|
| Black, non-Hispanic | $3,940 |
| Hispanic | $5,510 |
| Other | $6,320 |
| White, non-Hispanic | $6,940 |
In a nutshell: Average credit card debt in America
Thanks to data from the likes of the Federal Reserve and Experian, it’s possible to compare American credit card debt using a variety of criteria. Looking at factors like location, age, education level and ethnicity/race can help you compare your debt to that of others.
And if you’re struggling with credit card debt, there are a variety of ways to pay off credit card debt. And there may even be credit card debt relief options available to you.
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