- Credit card debt is on the rise in the US, with the average American household carrying $5,700 in credit card debt, according to a new report by ValuePenguin.
- However, location accounts for differences in credit card debt across American households.
- ValuePenguin broke down the average credit card debt by state and Alaska comes out on top.
More Americans are using credit cards than ever before.
And while the average percentage of Americans carrying credit card debt has been on the decline over the past ten years, the average credit card debt amount has been increasing, according to ValuePenguin, who recently explored data from the US Census Bureau and the Federal Reserve to take a closer look at credit card debt.
ValuePenguin found that more than 40% of all US households carry credit card debt, with the average American household carrying $5,700 in debt.
However, this average varies across different regions in the US. Using data from S&P Global Intelligence, ValuePenguin broke down the average credit card debt by state to highlight how location plays a factor.
Below, see the average credit card debt in every state, ranked from lowest to highest.
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Average credit card debt: $5,446
50. South Carolina
Average credit card debt: $5,801
Average credit card debt: $5,803
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Source: Business insider