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States with the highest credit card debt

Californians and Texans hold the most credit card debt, according to WalletHub. U.S. consumers nationwide hold more than $1 trillion in credit card debt.

Californians are racking up the most credit card debt, according to recent data from personal finance website WalletHub. 

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. In the second quarter of 2023, consumers added almost $43 billion, which marks the second-largest increase during that period to date, according to WalletHub.

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.

CREDIT CARD DEBT HITS $1T FOR THE FIRST TIME EVER

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.

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. 

CREDIT CARD DEBT RISING IN DOUBLE-EDGED SWORD FOR THE ECONOMY

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. 

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. 

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.

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