WalletHub has released its credit card debt study, detailing the states with the most and least amount of credit card debt.
The website notes, “U.S. consumers have started to return to bad habits when it comes to credit card debt, following a record-setting reduction in 2020 that continued into the first quarter of 2021.”
WalletHub continued, “During Q2 2021, consumers added $45.7 billion to their tab – an all-time record that nearly wiped out the first quarter paydown. Furthermore, WalletHub now projects that consumers will end the year with a net addition of $100 billion in credit card debt, which far exceeds the 10-year average of $45.6 billion.”
The quarterly credit card debt studies by WalletHub are based on analysis of the latest data on consumers’ finances available from TransUnion as well as the Federal Reserve and Bureau of Labor Statistics.
Here are the states with the least amount of credit card debt.
- North Dakota
- South Dakota
- Rhode Island