Posted by admin on September 24, 2008
The average amount of household credit card debt w/ interest rates by state. This data is being retrieved from those in debt using TrackCards.
This data is from a relatively small number of users and should not be a representation of American credit card debt as a whole. It is not scientific.
| Card Name |
Average Balance |
Average Utilization |
| Chase |
$4002.97 |
73.08% |
| Capital One |
$3256.03 |
60.31% |
| Discover |
$3819.95 |
57.14% |
| Bank of America |
$5236.92 |
54.33% |
| American Express |
$5350.82 |
51.99% |
| State |
Average Balance |
Average APR |
Average # of Cards |
Average Utilization |
| Alabama |
$5,601.92 |
15.73% |
3.42 |
55.35% |
| Alaska |
$4,191.41 |
12.62% |
8.5 |
62.38% |
| Arizona |
$8,521.37 |
13.05% |
4.75 |
67.06% |
| Arkansas |
$6,819.69 |
13.73% |
1.67 |
66.13% |
| California |
$7,642.49 |
49.79% |
5.23 |
111.88% |
| Colorado |
$13,794.23 |
15.56% |
5.17 |
85.93% |
| Connecticut |
$7,234.87 |
12.45% |
3.38 |
64.82% |
| Delaware |
$5,679.70 |
19.33% |
1 |
56.8% |
| Florida |
$5,982.10 |
14.67% |
4.97 |
65.95% |
| Georgia |
$4,300.58 |
14.48% |
4.25 |
75.03% |
| Hawaii |
$4,280.08 |
12.84% |
5.75 |
43.97% |
| Idaho |
$6,127.04 |
21.37% |
3 |
76.08% |
| Illinois |
$4,963.07 |
16.56% |
6.12 |
49.43% |
| Indiana |
$9,604.26 |
10.34% |
3 |
83.38% |
| Iowa |
$6,949.13 |
18.66% |
3.8 |
39.58% |
| Kansas |
$8,447.02 |
8.42% |
6 |
89.88% |
| Kentucky |
$10,232.52 |
9.56% |
2.33 |
48.86% |
| Louisiana |
$6,101.84 |
13.44% |
5 |
51.66% |
| Maine |
$5,649.34 |
15.66% |
4.33 |
40.82% |
| Maryland |
$3,824.50 |
12.82% |
4.56 |
48.04% |
| Massachusetts |
$7,788.78 |
14% |
5.67 |
46.04% |
| Michigan |
$4,720.43 |
12.19% |
5.21 |
51.19% |
| Minnesota |
$8,339.13 |
13.77% |
5.5 |
67.77% |
| Mississippi |
$9,701.20 |
15.12% |
2.67 |
82.12% |
| Missouri |
$4,067.74 |
16.25% |
5.43 |
38.46% |
| Montana |
$7,180.53 |
22.02% |
1 |
71.81% |
| Nebraska |
$6,751.90 |
10.46% |
4 |
58.81% |
| Nevada |
$9,218.76 |
20.53% |
5.75 |
61.99% |
| New Hampshire |
$5,993.49 |
14.83% |
5.67 |
57.26% |
| New Jersey |
$3,596.04 |
14.62% |
6.5 |
40.81% |
| New Mexico |
$7,888.94 |
14.45% |
2.8 |
63.13% |
| New York |
$4,456.01 |
13.47% |
5 |
50.77% |
| North Carolina |
$2,557.97 |
17.31% |
3.29 |
44.4% |
| North Dakota |
$1,771.16 |
15.38% |
2.2 |
177.67% |
| Ohio |
$7,602.75 |
13.74% |
4.87 |
57.48% |
| Oklahoma |
$4,922.23 |
14.07% |
3 |
68.03% |
| Oregon |
$4,977.58 |
14.72% |
3 |
83.59% |
| Pennsylvania |
$2,278.74 |
15.38% |
4.72 |
60.63% |
| Rhode Island |
$7,581.01 |
14.09% |
1 |
60.71% |
| South Carolina |
$3,716.56 |
14.7% |
6.8 |
159.84% |
| South Dakota |
$2,055.76 |
20.5% |
2 |
245.73% |
| Tennessee |
$6,494.87 |
12.57% |
3.75 |
69.94% |
| Texas |
$4,613.60 |
14.48% |
4.08 |
58.88% |
| Utah |
$4,987.75 |
14.49% |
2.2 |
396.07% |
| Vermont |
$3,223.77 |
21.4% |
1 |
32.24% |
| Virginia |
$2,774.67 |
15.76% |
2.75 |
49.43% |
| Washington |
$3,955.14 |
12.87% |
6.36 |
48.48% |
| West Virginia |
$9,561.92 |
16.23% |
4.8 |
69.19% |
| Wisconsin |
$5,273.35 |
13.42% |
3.45 |
62.1% |
| Wyoming |
$8,484.26 |
13.4% |
3 |
155.72% |
Posted by admin on July 4, 2008
There are many debt-consolidation options out today. We have loans, credit cards for balance transfers and home equity lines of credit. These debt consolidation options are here to help you with your Debt problems but many customers end up with the same amount of debt with in two years.
Even though these debt consolidate options could be a quick fix for some looking to get out of finical debt with there credit card debt. Some should be careful when dealing with theses options.
To avoid getting into future debt with these debt consolidation options, we have listed some of the most common ways and how they can help you with dealing with your credit card debt
WAIT! There is more to read… read on »
Posted by admin on May 15, 2008
Each month when you sit down with your bills you may be worried about how you will ever get out from under your mountain of credit card debt. Since they were introduced in 1950 credit cards have become a staple in households all over the nation. However, they are often used for wants instead of necessities and that is what gets consumers into trouble.
If you have a high rate of interest in your credit cards and a very low minimum payment you may be seeing those balances continue to rise. Now is the time to get a grip on your credit card debt. Even if it seems impossible right now there are ways to pay off your credit card debt. It doesn’t matter how much you owe or how many credit cards you have to pay off. Credit card debt reduction is possible if you implement a plan of action and stick to it.
WAIT! There is more to read… read on »
Posted by admin on
The number of people in our society that have credit card debt of more than $10,00o is unbelievable. When you consider how much they will pay in interest to pay down that balance it is enough to make your head spin. Toss in fees for being late and over the limit and it is no wonder many people just feel helpless when it comes to their credit card debt.
You do have the power though to get your credit back on track with credit card debt reduction strategies. This all starts by educating yourself about your financial situation. Most people don’t even realize that their spending habits are out of control. They assume if they had more money they would be fine. Yet the more money they do make the more they spend so their debt doesn’t get smaller.
WAIT! There is more to read… read on »
Posted by admin on
If you are considering credit card debt consolidation, it is important to understand what you are getting involved in. You do have a few options to select from as well so take the time to evaluate each one of them. Choose the right one for your given situation so that you can get the most out of this method of credit card debt reduction.
One of the main reasons why consumers look at credit card debt consolidation is because they owe money on several credit cards. Even small monthly payments to each of these locations adds up to a chunk of cash each month out of the family budget. You also aren’t going to be paying down the balances very much in this manner. The cycle can look like a dead end street.
WAIT! There is more to read… read on »
Posted by admin on
It can be scary when you sit down and add up all of your credit card debt. When you owe it to several cards that means you owe each of them on a monthly basis. Even making minimum payments, it can add up to a nice chunk of your disposable income. The fact that you are only making minimum payments also means you aren’t going to be paying off that debt any time soon.
One option that may work well for you is to consolidate all of them onto one card. This means you only have one monthly payment to deal with. If you look for credit card balance transfer promotions you can get some very low rates for placing all of this debt onto that credit card.
WAIT! There is more to read… read on »
Posted by admin on
If you owe money each month to several different credit cards then it could be a drain on your disposable income. You may find that almost every bit of what you are paying out monthly is only covering the interest as well. One way to take care of this issue is to consider credit card debt consolidation. It can help you to achieve your dream of being debt free in less time.
Credit card debt reduction isn’t something that will just happen for your though. It is going to be up to you to commit to a realistic plan of action. You will need to identify your spending habits and implement changes. After all, you aren’t going to be able to eliminate those credit card debts if you continue to accumulate new charges.
WAIT! There is more to read… read on »
