Average Credit Card Debt in America

Credit card debt in America is seeing a steady rise to new heights — not just in the total amount owed, but also in the interest cardholders pay to carry their debt.^{1, 2}

It’s a trend that promises to continue: With growing economic uncertainty, Americans in 2025 are continuing to turn to credit cards to fund their purchases and in some cases even make ends meet.

Credit cards are expensive today for many reasons, but the COVID-19 pandemic injected new pressures. First, the Federal Reserve raised interest rates significantly in 2022 and 2023 to combat pandemic-spurred inflation, spurring credit card interest rates to at- or near-record highs.

Post-pandemic inflation and stimulus support shift contributed to a rise in credit card delinquencies, further increasing the cost of credit.³

Increased reliance on credit, coupled with interest rates remaining at near-record highs, has led ever more Americans to dangerous debt levels and account defaults that result in credit score damage.

Here, we break down America’s credit card debt problem and how it compares to the debt levels in other countries.

Consumers spent less and saved more money during the pandemic. Reduced spending, paused student loan payments, and stimulus checks, among other factors, led to lower credit card balances.

But all indications are that any pandemic-caused boost in savings is a thing of the past. With savings depleted, individual consumers now face the consequences of the trends we outlined above, including more debt.⁴

One symptom is that individual card balances are on an upward trend. Data from the TransUnion credit bureau puts average consumer credit card debt at $6,415 as of April 2025, up 2.9% from $6,237 the previous year.

Moreover, average balances are increasing across all credit score categories, from subprime to superprime. While those in the higher score categories have tended to experience greater increases, this trend reflects the state of the U.S. economy and the financial pressure all Americans are under.⁵

Credit Score	April 2025	April 2024	% Change
Super prime	$4,123	$3,933	+4.8%
Prime plus	$7,914	$7,633	+3.7%
Prime	$9,473	$9,148	+3.6%
Near prime	$9,243	$9,076	+1.8%
Subprime	$5,727	$5,608	+2.1%
Average	$6,415	$6,237	+2.9%

Thinking about average credit card debt per individual obscures the real possibility that multiple household members own and manage credit cards. With the latest U.S. Census data pegging the average American household at 2.54 individuals, the typical scenario has two adults capable of using credit, which means more opportunity to accrue credit card debt.

The possibilities quickly expand when children are around. The average American household owed $10,788 as of February 2025. That figure is actually down from $11,303 in Q4 2024 and $11,221 a year earlier.⁶

Here’s how average household credit card debt balances have changed from 2023 to 2025:

Feb. 2025 (Preliminary)	Q4 2024	Q4 2023
$10,788	$11,303	$11,221

It should come as no surprise that credit card delinquencies — defined as a payment made 30 or more days late — remain elevated, even if they’re trending slightly downward from highs in 2024. Late payments come with their own challenges, including expensive late fees, penalty APRs of up to 36%, and lower credit scores.⁷

The amount of credit card debt someone has is also influenced by where they live. For example, the cost of living in states such as California and New York is much higher than it is in Idaho. 

Using data from Q1 2025 for selected states, here’s how the average card balance fluctuates based on the cardholder’s geographic location:

Rank	State	Average Credit Card Debt
1	New Jersey	$9,382
5	California	$9,096
10	New York	$8,727
15	Washington	$8,067
20	Nevada	$7,797
25	Minnesota	$7,179
30	Michigan	$7,004
35	Wyoming	$6,603
40	Ohio	$6,345
45	West Virginia	$5,726
50	Kentucky	$5,237

Residents in New Jersey carry the most credit card debt, averaging $9,382. Residents in Kentucky carry the lowest average credit card debt at $5,237. That means New Jerseyans owe an average of 79% more on their cards than Kentuckians.

Also interesting is that the four states with the highest average card balances are in New England and the Mid-Atlantic (New Jersey, Maryland, Connecticut, and Massachusetts).⁸ As of April 2025, the U.S. Bureau of Labor Statistics reports that the consumer price index, which reflects the cost of consumer goods and services, in the Northeast is up 3.1% year over year.⁹

Restoring equilibrium after the pandemic and managing the economic and political flux is a challenge that affects every generation. But the burden of credit card debt, like other forms of debt, affects consumers in stages according to where they are in life.

As reflected in this data, debt levels typically peak when consumers are middle-aged. This is typically because they’re earning and spending more during this time, whereas younger generations may still be living with their parents to manage inflated housing costs and just beginning their careers. 

It doesn’t speak too well of the economy to note that Generation Z members — those born between 1997 and 2012 — have seen the greatest increase in average credit card balances between 2023 and 2024.

On the other side sits the Silent Generation — individuals born between 1928 and 1945 — who have seen the smallest average increase in their credit card balances.

Gen Xers born between 1965 and 1980 have the unfortunate designation of the generation with the highest average card debt. Gen Zers have the least. But as we saw above, they’re catching up.¹⁰

Generation	2023	2024	% Change
Gen Z	$3,414	$3,764	10.28%
Millennials	$7,031	$7,692	9.40%
Gen X	$9,434	$10,221	8.34%
Baby boomers	$7,889	$8,328	5.56%
Silent	$5,581	$5,710	2.31%

Total outstanding credit card debt in the U.S. has exhibited a yo-yo effect over the years, tending to rise and fall with the economy. For example, data reveals a spike in card debt around the Great Recession of 2007-2009, when budgets tightened and reliance on credit increased.

Total outstanding credit card debt isn’t at its highest level since the Federal Reserve began tracking revolving debt balances, but it’s close.

Quarter	Total Credit Card Debt
Q2 2023	$1.03 trillion
Q3 2023	$1.08 trillion
Q4 2023	$1.13 trillion
Q1 2024	$1.12 trillion
Q2 2024	$1.14 trillion
Q3 2024	$1.17 trillion
Q4 2024	$1.21 trillion
Q1 2025	$1.18 trillion

Interestingly, one trend that almost always seems to hold true is seasonal consistency in credit card debt fluctuations. The end-of-year holiday season is a time for spending, with consumers typically running up their cards to fund feasts and celebrations and then adopting a personal austerity program in January.

Tax refunds can help, but paying down debt is mostly about self-discipline. We see those trends in Q1 data for 2024 and 2025, where the total debt amount dipped slightly. Still, it’s clear the problem of too much credit card debt isn’t going away soon.¹

America isn’t the only economy facing transformative pressures in 2025. But using raw household credit card debt figures to compare those pressures from nation to nation is unwieldy due to widely divergent economies and currency values.

One way to understand the relative burden of credit card debt is through comprehensive data from the International Monetary Fund (IMF), a United Nations organization that promotes global monetary cooperation.

The IMF Datamapper, which accesses the IMF’s Global Debt Database, reveals the ratio between total household indebtedness and national GDP, allowing for accurate international comparisons.

What the IMF shows is that when it comes to debt versus national prosperity, Americans fall somewhere in the middle in a selected list of highly developed countries, with a debt-to-GDP ratio of 72.93.¹¹

While Japan, France, Germany, and Italy demonstrate more overall debt restraint than Americans, UK citizens and Canadians exhibit even more debt tolerance:

Country	Debt-to-GDP Ratio	Total Card Ownership Rate (2021 Data)
Canada	102.21	82.7%
United Kingdom	77.76	62.1%
United States	72.93	66.7%
Japan	65.66	69.7%
France	62.63	39.8%
Germany	51.33	56.5%
Italy	37.83	57.9%

Perhaps the most indicative trend those numbers reveal is that total Canadian household debt exceeds the GDP.

Perhaps it’s not surprising given that TransUnion measures average Canadian credit card debt as up 6.97% in Q4 2024 compared to the previous year.¹² But knowing the average Canadian had $4,562 of credit card debt in Q4 2024 doesn’t convey the scale of the anomaly America’s neighbors to the north face.

Keep in mind that card ownership rates vary by country as well. To illustrate, note the total card ownership data from 2021 (the most recent year available) in the above table, which shows a rough association between the debt-to-GDP ratio and total credit card ownership rates.¹³

Many variables play into these dynamics, but it’s a bit of good news for Americans facing the challenge of balancing record and near-record credit card debt with their hopes and dreams for the future.

You can take several proactive steps to curb credit card debt in the face of soaring debt levels, escalating interest rates, and mounting inflation. Here are some actionable strategies:

1. Create a realistic budget: Start by assessing your income, expenses, and debt obligations. Develop a comprehensive budget that prioritizes essential expenses while allocating a portion of your income toward debt repayment.
2. Minimize unnecessary expenses: Identify discretionary spending habits and cut back on non-essential purchases. Prioritize needs over wants to free up additional funds you can put toward your debt payoff goals.
3. Negotiate lower interest rates: Contact credit card companies and request a reduction in interest rates. Highlight your responsible payment history and mention competitive rates offered by other issuers. Lower interest rates can significantly reduce the overall cost of your debt.
4. Use balance transfers: Explore balance transfer credit cards that offer low or 0% introductory interest rates. By transferring high-interest balances to these cards, you can save on interest charges during the promotional period, allowing more of your payments to go toward reducing the principal debt.
5. Prioritize debt repayment: Adopt a debt repayment strategy that aligns with your financial goals. Two popular approaches are the avalanche method and the snowball method. The avalanche method involves paying off high-interest debt first, while the snowball method focuses on tackling small balances initially for motivation.
6. Increase monthly payments: Allocate a larger portion of your income toward credit card debt repayment. You can expedite the principal reduction and save on interest charges over time by paying more than the minimum due.
7. Consider debt consolidation: Explore options for consolidating high-interest credit card debt into a lower-interest loan or a balance transfer credit card. Consolidation can simplify debt management and potentially reduce interest costs.
8. Seek credit counseling: Consult with nonprofit credit counseling agencies that offer free or low-cost assistance. These organizations can provide personalized advice, help negotiate with creditors, and offer debt management plans.
9. Avoid incurring additional debt: Stop charging your credit cards and instead rely on cash or debit cards for purchases. This discipline will prevent further debt accumulation and allow you to focus on paying off your existing balances.
10. Boost your income: Seek ways to increase your income, such as taking on a part-time job, freelancing, or exploring side gigs. You can apply the additional earnings to debt repayment and accelerate your progress.
11. Build an emergency fund: Establish an emergency fund to cover unexpected expenses, reducing the likelihood of relying on credit cards for emergencies.

Remember, successfully curbing credit card debt requires discipline, perseverance, and a long-term commitment to financial responsibility. It may take time, but by implementing these strategies, Americans can make significant progress toward reducing their debt burden.

The main findings of this data are: 

• Americans owe $1.18 trillion in total credit card debt, down slightly from an all-time high of $1.21 trillion in Q4 2024
• American individuals owe an average of $6,415
• Households owe an average of $10,788
• Residents of New Jersey have the highest individual average balance at $9,382
• Residents of Kentucky have the lowest average balance at $5,237
• Generation X had the highest average credit card balance in 2024: $10,221, up 8.34% from the previous year
• The Silent Generation had the lowest average credit card balance in 2024: $5,710, up 2.31% from the previous year
• Although Americans hold the largest amount of credit card debt in real currency, Canada is the only nation with more household debt than GDP

^{1 https://www.newyorkfed.org/microeconomics/hhdc
2 https://www.federalreserve.gov/releases/g19/current
3 https://www.stlouisfed.org/on-the-economy/2025/may/broad-continuing-rise-delinquent-us-credit-card-debt-revisited
4 https://www.frbsf.org/research-and-insights/blog/sf-fed-blog/2024/05/03/pandemic-savings-are-gone-whats-next-for-us
consumers
5 https://www.transunion.com/lp/monthly-industry-snapshot
6 https://wallethub.com/edu/credit-card-debt-report/127704
7 https://alfred.stlouisfed.org/series?seid=DRCCLACBS
8 https://www.lendingtree.com/credit-cards/study/credit-card-debt-statistics
9 https://www.bls.gov/regions/mid-atlantic/news-release/consumerpriceindex_northeast.htm
10 https://www.creditkarma.com/insights/i/state-of-debt-and-credit-report#average-credit-card-debt
11 https://www.imf.org/external/datamapper/HH_LS@GDD/CAN/GBR/USA/DEU/ITA/FRA/JPN
12 https://www.moneysense.ca/spend/shopping/how-much-credit-card-debt-does-the-average-canadian-have
13 https://genderdata.worldbank.org/en/indicator/fin7-t-a?gender=total}