Edited by Samuel MountjoyAverage Credit Card Debt by Age in 2025
Edited by Samuel Mountjoy
Quick Answer
The $6,961 average balance among millennials is now slightly more than the $6,795 balance of the baby boomer generation.
Younger generations continue to carry larger amounts of credit card debt each year, while older generations have seen their balances decrease.
While older generations are reducing their card balances, younger generations are doing the opposite. Generation Z, millennials and even Generation X are swelling their credit card balances and show no sign of stopping, according to Experian data.
Credit card balances are increasing more slowly in 2025 than in prior years, however. The average credit card balance grew by less than 1% among consumers overall, from $6,699 in June 2024 to $6,735 in June 2025. Higher annual percentage rates (APRs) averaging around 22% are swelling larger credit card balances more quickly than in the past, making it more difficult for consumers to pare down balances.
Here's an overview of the average credit card debt by age:
- Generation Z: $3,493
- Millennials: $6,961
- Generation X: $9,600
- Baby boomers: $6,795
- Silent Generation: $3,445
Younger Generations' Credit Card Debt Rises in 2025
Card balances are up in 2025, but those increases aren't distributed equally. This was the year that average credit card balances of both Generation Z and millennials surpassed those of baby boomers and the Silent Generation. For a number of years, credit card balances for younger generations—that is, anyone 60 and under this year—have been growing faster than balances among baby boomers and the Silent Generation. Meanwhile, average credit card balances among older consumers have been flat for several years.
Generation Z consumers, most of whom are in their 20s, carry an average credit card balance of $3,493, slightly more than the $3,445 average balance of Silent Generation consumers, most of whom are in their 80s. Similarly, the $6,961 average balance among millennials is now slightly more than the $6,795 balance of the baby boomer generation.
Average Credit Card Debt by Generation, 2012 to 2025
While other generations are duking it out, Generation X consumers are in a league of their own. The average credit card balance of those ages 45 to 60 reached $9,600 in 2025—a $2,600 increase from just three years ago.
One problem, at least for many older Gen Xers, is that their peak earnings years are behind them. The combination of growing credit card balances and shrinking household incomes is bound to squeeze some consumers. And even though older consumers tend to spend less, larger debt payments will still put them at a disadvantage, especially with higher-rate credit card debt.
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Credit Card Balances Among Younger Generations Increase Sharply Across the US
The discrepancy among the generations persists down to the state and local levels as well. While credit card balances declined for younger consumers in just a few Southern states, 3% to 4% increases were more the norm for younger consumers in most states. Only in a handful of states are baby boomers carrying more credit card debt than they did in 2024. And even where they are—high inflation states like California, Florida and Hawaii—balances are still growing faster for younger generations.
Percent Change in Credit Card Balance by Generation, 2025
Younger Consumers Increasingly Use Credit Cards for Everyday Items
Younger consumers are choosing to carry larger balances on their credit cards this year, as prices for everyday purchases continue to be volatile, and higher rent and car payments speak for an ever-greater share of a young person's income in many cases. Consumers of all ages, but especially millennials and Gen Z, are using credit cards as well as newer products, such as buy now pay later plans, more often for everyday necessities such as groceries than in prior years.
While credit cards and buy now, pay later plans can help consumers weather those periods when there's not enough in bank accounts to cover groceries and gas, using them with regularity will likely increase balances over time. And with average APRs still around 22%, interest charges will turbocharge those balances. However, the good news is that by making on-time payments on those credit cards, consumers may improve their FICO® ScoresΘ enough to qualify them for 0% intro APR balance transfer credit card offers from other card issuers.
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About the author
Chris Horymski
Chris Horymski leads Experian Consumer Service’s data research for Ask Experian, where he publishes insights and analysis on consumer debt and credit. Chris is a veteran data and personal finance journalist and previously wrote the Money Lab column for Consumer Reports and headed research at SmartMoney Magazine.
Read more from Chris