The States of Credit Card Debt - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » The States of Credit Card Debt

The States of Credit Card Debt

The content is accurate at the time of publication and is subject to change.

The New York state comptroller’s office has released a new state-by-state report on debt, taking a close look at what states carry the most credit card debt. They found that in 2017 people living in California carried the most, weighing in with $106.8 billion in credit card debt. But they are not alone; Texans owe $67.3 billion, while Florida ($59.2 billion) and New York ($58.1 billion) take the third and fourth spots.

What about the other states? There are six more states carrying extensive debt in the study, including:

  • Pennsylvania -$33.2 billion
  • Illinois -$32.2 billion
  • New Jersey -$29.6 billion
  • Ohio – $26.7 billion
  • Virginia $26.5 billion
  • Georgia -$26.3 billion

Debt and Delinquencies Up in 2017 in New York

While the residents of the state of New York were carrying $58.2 billion in credit card debt last year, the report by State Comptroller Thomas P. DiNapoli noted that the total of overall debt in the state had gone down between 2008 and 2013. But in 2014 that changed with credit card balances shooting up 14% between then and 2017 when it hit $3,710. This number is 20% over the national average.

New York State also had the most delinquencies last year, with 8.3% of New York’s credit card debt being 90 or more days delinquent, besting the national average, which was 7.5%. Yet New York is not alone; Nevada showed just about 11% in delinquencies.

With the amount of debt and delinquencies on the rise, DiNapoli advised consumers to keep an eye on their finances and actively manage their credit card debt. “While a good credit record is seen as an element of strong financial health, bad credit standings can lead to damaging consequences,” DiNapoli said.

“Experts say staying within your credit limit, paying bills on time and checking your interest rates will go a long way toward managing your credit,” he added.

Available balances and some advice

In the report, they point out that there were just about 470 million credit card accounts in the mix, with people’s available balances equaling $3.5 trillion for the nation. What is the most commonly used form for borrowing? If you guessed credit cards, according to the study you would be right.

When signing up for a new card they suggest people educate themselves on how much they will be paying in fees and interest in order to avoid issues later on. They also point out that information is posted by the Federal Consumer Financial Protection Bureau, offering people information on credit cards and other issues. This information can be found on their website.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

New IKEA Credit Card
New IKEA Credit Card

Posted: May 23, 2018

The IKEA Visa credit card is now available, offering 5% back in rewards on IKEA purchases. People with this card also earn 3% back when shopping for groceries, eating out and paying for utilities. All other purchases get 1% back. Continue reading

The New Harris Teeter Rewards World MasterCard
The New Harris Teeter Rewards World MasterCard

Posted: August 13, 2018

Harris Teeter, a grocery chain, has teamed up with U.S. Bank to roll out the new Harris Teeter Rewards World MasterCard. Now their customers can earn free groceries, whether that means loading up on snacks or reaching for something… Continue reading

Mastercard's New True Name Card is Game Changer
Mastercard's New True Name Card is Game Changer

Posted: July 04, 2019

It’s gay pride month and in keeping with this theme Mastercard will be rolling out the new True Name card, which lets people who are non-binary and/or transgender have their chosen name on their card rather than having to use the name they… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
For Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
For Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!