Credit Card Debt Is Highest and Lowest in These States

Credit Card Debt Is Highest and Lowest in These States article image.

At Experian, one of our priorities is consumer credit and finance education. This post may contain links and references to one or more of our partners, but we provide an objective view to help you make the best decisions. For more information, see our Editorial Policy.

Americans are swimming in credit card debt. Credit card balances grew 6.6% in the second quarter of 2018 versus the same time in 2017, according to Experian data. The total balances for credit cards increased to $782 billion in Q1 2018 compared to $734 billion in Q2 2017.

Embed

Credit Card Debt by State

Some states are seeing their credit card debt increase more than others, with Nevada and Florida leading the pack. Here are the states that have seen the most and least growth in credit card debt, based on Experian's data for the first quarter.

Embed

In terms of new credit card accounts, South Dakota, North Carolina and Kentucky saw the greatest year-over-year growth in the first quarter. Every single state saw the number of new credit card account grow in Q2 2018 compared to last year.

Embed

How to Pay Down Your Credit Card Debt

The most important thing you can do to improve your credit card debt is to make sure to pay your bills on time. By doing so you can maintain a good credit score or repair your credit score. If needing repair is an issue, find out how much you owe by making a list of all the cards you have, your balances, and the minimum payment for each.

If needed, you can check your credit report for free to find out as they will be listed with the most recent reported balance. You can check your bank or credit card issuer to get the most up-to-date information.

From this point on, you need to determine the best approach the fits your financial situation. Here are some additional resources to help you pay down your credit card debt:

The purpose of this question submission tool is to provide general education on credit reporting. The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team may include it in a future post and may also share responses in its social media outreach. If you have a question, others likely have the same question, too. By sharing your questions and our answers, we can help others as well.

Personal credit report disputes cannot be submitted through Ask Experian. To dispute information in your personal credit report, simply follow the instructions provided with it. Your personal credit report includes appropriate contact information including a website address, toll-free telephone number and mailing address.

To submit a dispute online visit Experian's Dispute Center. If you have a current copy of your personal credit report, simply enter the report number where indicated, and follow the instructions provided. If you do not have a current personal report, Experian will provide a free copy when you submit the information requested. Additionally, you may obtain a free copy of your report once a week through April 2022 at AnnualCreditReport.