Credit
Card
Mayhem!
The average interest rate on a credit card is around 22.25% to 22.80%, according to recent data from May and November 2024 from the Federal Reserve and Federal Reserve Board.
Highest Household Credit Card Debt
If you're feeling the weight of credit card debt, you're not alone. In August, US household credit card debt reached an all-time high of $1.33 trillion. The average American household is now carrying $10,668 in credit card balances, a number that keeps climbing higher. This isn't just a statistic; it's a real burden affecting millions of families trying to make ends meet.
Where you live can make a big difference in how much debt you're likely carrying. If you're in Hawaii, you might be facing the highest average debt at $15,100 per household. California comes in second at $13,800, followed by Alaska at $13,600. New York ($12,900), Texas ($12,800), and Florida ($12,600) also rank among the states with the heaviest credit card burdens. The trend is clear: across the country, credit card debt just keeps growing.
No comments:
Post a Comment