The financial crisis and the recession that followed put a dent in U.S. consumers’ credit card debt, but in recent years, credit card balances have headed higher again. By the beginning of 2019, U.S. consumers had more than $1 trillion in credit card debt outstanding.
A recent study by consumer finance website WalletHub provides a more detailed view of that debt. WalletHub used data from credit reporting agency TransUnion to establish the median level of credit card debt in each state, as well as the pace at which each state’s residents are paying off their debt. It then calculated how long it would take residents to pay off their debt and the finance charges they would pay as they did so.
Click through to see the 10 states with the highest levels of credit card debt.
