2025 Credit Card Debt Statistics
Americans have an absolute mountain of credit card debt — $1.166 trillion, to be exact.
This credit card debt statistics page tracks Americans’ credit card use each month. We update this page regularly, looking at how much debt people have, how often they carry a balance month to month, how often they pay their credit card bills late and more.
How much credit card debt do Americans have?
This is the ninth time in the past 10 quarters in which credit card debt hasn’t decreased. The only decrease during that period was in Q1 2024. However, it isn’t unusual for credit card debt to dip in Q1. That’s happened in all but three years — 2000, 2001 and 2023 — since the report began in 1999. A decrease in Q3 would have been far more surprising. The last time that happened was in 2020, during some of the darkest days of the pandemic. Before that, it hadn’t happened since 2011.
Credit card balances have risen by $396 billion since Q1 2021, when credit card debt bottomed out at $770 billion during the pandemic. That’s a 51% increase in three-and-a-half years. Americans’ credit card debt is $239 billion higher than the pre-pandemic record set in Q4 2019, when balances stood at $927 billion. (That’s a 26% increase.) However, thanks to still-sky-high interest rates, stubborn inflation and myriad other economic factors, credit card balances are likely only going to climb.
These record balances are light years above the $478 billion seen more than 20 years ago in Q1 1999.
Card debt showed hockey-stick growth until the financial collapse in 2008, when balances fell from $866 billion in Q4 2008 to $660 billion in Q1 2013. But, as you can see in the chart below, the hockey stick returned.
Then, when the pandemic took hold in 2020, credit card balances plunged again — from $927 billion in Q4 2019 to $770 billion in Q1 2021. But — again — the hockey stick returned, thanks to a massive spike in Q4 2021.
Which states’ residents have the most credit card debt?
Credit cardholders in Connecticut have the highest average credit card debt of any state, according to LendingTree data, while those in Mississippi have the lowest.
| Rank | State | Avg. credit card debt, Q2 24 | Avg. credit card debt, Q3 24 | % difference, Q2 24 to Q3 24 |
|---|---|---|---|---|
| 1 | Connecticut | $8,835 | $9,323 | 5.5% |
| 2 | District of Columbia | $8,707 | $9,209 | 5.8% |
| 3 | California | $8,980 | $9,191 | 2.3% |
| 4 | New Jersey | $9,229 | $9,112 | -1.3% |
| 5 | Florida | $8,841 | $9,094 | 2.9% |
| 6 | Alaska | $8,795 | $9,040 | 2.8% |
| 7 | Maryland | $9,076 | $8,830 | -2.7% |
| 8 | New York | $8,506 | $8,810 | 3.6% |
| 9 | Hawaii | $8,535 | $8,798 | 3.1% |
| 10 | Massachusetts | $8,556 | $8,685 | 1.5% |
| 11 | Colorado | $8,128 | $8,371 | 3.0% |
| 12 | Texas | $8,009 | $8,316 | 3.8% |
| 13 | New Hampshire | $7,606 | $8,217 | 8.0% |
| 14 | Nevada | $7,941 | $8,186 | 3.1% |
| 15 | Virginia | $7,878 | $8,136 | 3.3% |
| 16 | Washington | $7,800 | $8,086 | 3.7% |
| 17 | Rhode Island | $7,815 | $8,069 | 3.3% |
| 18 | Georgia | $7,849 | $7,925 | 1.0% |
| 19 | Illinois | $7,876 | $7,846 | -0.4% |
| 20 | Arizona | $7,653 | $7,842 | 2.5% |
| 21 | Delaware | $7,660 | $7,598 | -0.8% |
| 22 | Vermont | $7,295 | $7,478 | 2.5% |
| 23 | Utah | $7,372 | $7,290 | -1.1% |
| 24 | Oregon | $7,224 | $7,204 | -0.3% |
| 25 | Montana | $6,875 | $7,106 | 3.4% |
| 26 | Maine | $7,187 | $7,026 | -2.2% |
| 27 | Pennsylvania | $7,228 | $6,992 | -3.3% |
| 28 | North Carolina | $6,707 | $6,940 | 3.5% |
| 29 | Wyoming | $6,312 | $6,873 | 8.9% |
| 30 | Minnesota | $6,769 | $6,820 | 0.8% |
| 31 | Kansas | $6,297 | $6,818 | 8.3% |
| 32 | Idaho | $6,620 | $6,694 | 1.1% |
| 33 | South Carolina | $6,683 | $6,615 | -1.0% |
| 34 | New Mexico | $6,455 | $6,543 | 1.4% |
| 35 | South Dakota | $6,625 | $6,465 | -2.4% |
| 36 | North Dakota | $6,260 | $6,437 | 2.8% |
| 37 | Nebraska | $6,533 | $6,355 | -2.7% |
| 38 | Michigan | $6,366 | $6,318 | -0.8% |
| 39 | Ohio | $6,160 | $6,300 | 2.3% |
| 40 | Wisconsin | $5,865 | $6,082 | 3.7% |
| 41 | Missouri | $5,898 | $6,069 | 2.9% |
| 42 | Iowa | $5,968 | $6,064 | 1.6% |
| 43 | Oklahoma | $6,084 | $6,004 | -1.3% |
| 44 | Indiana | $5,853 | $5,876 | 0.4% |
| 45 | Alabama | $5,606 | $5,765 | 2.8% |
| 46 | Tennessee | $5,791 | $5,727 | -1.1% |
| 47 | Louisiana | $5,610 | $5,529 | -1.4% |
| 48 | West Virginia | $5,644 | $5,497 | -2.6% |
| 49 | Arkansas | $5,376 | $5,305 | -1.3% |
| 50 | Kentucky | $5,425 | $5,266 | -2.9% |
| 51 | Mississippi | $5,265 | $4,918 | -6.6% |
| Average | $7,130 | $7,236 | 1.4% |
Source: LendingTree analysis of the anonymized credit reports of more than 380,000 LendingTree users in Q2 2024 and more than 410,000 in Q3 2024. Note: The rank is based on the average credit card debt in Q3 2024.
LendingTree analysts reviewed anonymized credit report data from Q3 2024 for more than 410,000 LendingTree users to calculate these averages and create a list of states with the most debt. We also compared that data to what we found in our Q2 analysis of more than 380,000 reports.
Six states spread throughout the nation have average balances of at least $9,000. Connecticut leads at $9,323, followed closely by the District of Columbia ($9,209) and California ($9,191). However, New Jersey, Florida and Alaska aren’t far behind.
The seven states with the lowest balances are in the South. Mississippi’s balance is $4,918. It’s the only state with an average balance of less than $5,000.
Wyoming has the fastest-growing card debt between the periods analyzed. That state’s average card balance grew 8.9% from Q2 2024 to Q3 2024, rising from $6,312 to $6,873. Four other states saw increases of at least 5.0%, led by Kansas (up 8.3%) and New Hampshire (up 8.0%). Meanwhile, Mississippi — the state with the lowest average debt — also saw the biggest quarterly debt decrease. Mississippi residents’ debt fell 6.6% from $5,265 to $4,918. The only other state to see a decrease of greater than 3.0% was Pennsylvania, which fell 3.3% from $7,228 to $6,992.
What percentage of credit cardholders carry a balance?
Fewer than half of adult credit cardholders (47%) carried a balance on a credit card for at least one month in the past year, according to a May 2024 Federal Reserve study.
Job No. 1 for anyone with a credit card is to pay off that balance in full at the end of each month. But we all know that life happens, and that means that it’s not always possible to pay off your credit cards each month.
Federal Reserve data showed that fewer than half (47%) of credit cardholders carried a balance at some point in 2023. That’s down a percentage point from 2021 and 2022 but is down even further from 2020, when that rate was 50%.
What’s the average interest rate on people’s credit cards? What about those who carry a balance? What about new credit card offers?
For all credit cards, the average APR in Q4 2024 was 21.47%.
For cards accruing interest, the average in Q4 2024 was 22.80%.
For new credit card offers, the average today is 24.21% after the fifth consecutive monthly decrease in the wake of the Fed’s recent rate cuts.
| Avg. APRs for current card accounts, new credit card offers | |
| Avg. APR, current card accounts | 21.47% |
| Avg. APR, accounts that accrue interest | 22.80% |
| Avg. APR, new credit card offers | 24.21% |
Sources: Federal Reserve, LendingTree data
The Federal Reserve’s G.19 consumer credit report showed that the average APRs for cards accruing interest fell to 22.80% in Q4 2024, down from 23.37% in Q3 2024. Meanwhile, APRs for all current credit card accounts fell to 21.47% in Q4 2024, down from 21.76% in Q3 2024. Both of these averages had been at record highs in Q3. However, the Q3 numbers were from August, prior to the Fed’s September, November and December rate cuts. Given that, the Q4 decreases are no surprise, and cardholders should expect this to be the start of a downward trend that could last well into 2025.
And as the chart below shows, the rate you’re offered can also vary widely based on the type of card for which you apply.
Average APRs by category
| Category | Min. APR | Max. APR | Avg. | Prior month |
|---|---|---|---|---|
| Average APR for all new card offers | 20.72% | 27.70% | 24.21% | 24.26% |
| 0% balance transfer cards | 18.30% | 27.43% | 22.87% | 22.89% |
| No-annual-fee cards | 20.21% | 27.24% | 23.73% | 23.79% |
| Rewards cards | 20.44% | 2.81% | 24.13% | 24.17% |
| Cash back cards | 21.04% | 27.71% | 24.38% | 24.45% |
| Travel rewards cards | 20.07% | 28.40% | 24.23% | 24.23% |
| Airline credit cards | 20.28% | 28.90% | 24.59% | 24.55% |
| Hotel credit cards | 20.09% | 28.76% | 24.42% | 24.37% |
| Low-interest credit cards | 13.61% | 21.62% | 17.61% | 17.89% |
| Grocery rewards cards | 20.16% | 27.97% | 24.07% | 24.07% |
| Gas rewards cards | 20.70% | 27.76% | 24.23% | 24.25% |
| Dining rewards cards | 19.95% | 28.02% | 23.98% | 23.98% |
| Student credit cards | 18.32% | 27.99% | 23.16% | 23.16% |
| Secured credit cards | 26.61% | 26.61% | 26.61% | 26.71% |
Source: LendingTree review of publicly available terms and conditions for about 220 U.S. credit cards.
Of course, your best move is to make those interest rates a moot point by paying your card debt in full, but that’s often easier said than done.
How many Americans are currently delinquent with their credit card payments?
Just 3.23% of Americans’ total outstanding credit card balances are currently at least 30 days delinquent.
According to the most recent delinquency data from the Fed, the 30-day delinquency rate (or the percentage of total outstanding credit card balances currently at least 30 days overdue) dipped slightly, from 3.24% in Q2 2024 to 3.23% in Q3.
That ends a streak of 11 straight quarters of increases. During that period, delinquency rates rose to the highest levels seen since Q4 2011, when rates hit 3.25%. However, delinquency rates are still near historic lows. The average delinquency rate since the Fed began tracking in 1991 is 3.72%, while the average since 2000 is 3.45%.
Today’s numbers are also vastly different from what we saw during the Great Recession, when delinquencies peaked at nearly 7% in 2009 and stayed above 5% for nearly two years.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.