What is the average Americans credit card balance?

The average U.S. credit card balance is around $6,500 to $7,300 per consumer, with figures varying slightly by source and time, but consistently showing a rise driven by inflation and consumer spending, with older demographics often holding higher balances, while younger generations' balances are growing faster, according to late 2025 data from sources like LendingTree, Forbes, and U.S. News & World Report.

What is the average credit card balance in the US?

The average U.S. credit card balance for those carrying debt is around $6,700 to $7,300 in late 2025, with variations depending on the source, but Gen X generally holds the highest balances (around $9,600) while Gen Z has the lowest (around $3,500). Balances are rising, driven by high interest rates and essential spending on things like repairs and living costs, with states like New Jersey and Connecticut often seeing higher averages.
 

How many Americans have $20,000 in credit card debt?

A majority of Americans (53%) carry some, with an average balance of $7,719. However, a third of those carrying debt (32%) owe $10,000 or more, while almost 1 in 10 (9%) have credit card debt over $20,000.

What is the credit card limit for $70,000 salary?

With a $70,000 salary, you could expect initial credit limits ranging from around $14,000 to over $20,000, potentially reaching higher with excellent credit, but the actual limit depends heavily on your credit score, existing debt (Debt-to-Income ratio or DTI), and the card issuer's policies, as lenders focus more on your ability to repay than just income. 

What age group has the most debt?

The age group with the most total debt in the U.S. is typically Generation X (ages 40s-50s), driven by large mortgages, while Millennials (30s-40s) have high student debt and are accumulating credit card debt, and older groups like Baby Boomers carry substantial mortgage balances but are paying them down, showing debt shifts from education/vehicles to housing and retirement savings as people age.
 

Americans Tell Us How Much Credit Card Debt They Have

How many Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve.

Is $20,000 in credit card debt a lot?

U.S. consumers carry $6,501 in credit card debt on average, according to Experian data, but if your balance is much higher—say, $20,000 or beyond—you may feel hopeless. Paying off a high credit card balance can be a daunting task, but it is possible.

What credit score do you need for a $400,000 house?

Credit Score

When applying for a $400,000 home, lenders evaluate your credit scores to determine eligibility and the rates you'll receive: 740+: Best rates and terms. 700-739: Slightly higher rates. 660-699: Higher rates, may require larger down payment.

Should a $20000 credit card have a $6000 balance?

How Much You Should Spend With a $20,000 Credit Limit. Spending between $200 and $2,000 per month is best for your credit score. You should avoid having a balance above $6,000 when your monthly statement gets generated. Even if you spend $0, your credit score will still improve just by having the account open.

What is a respectable credit limit?

A good credit limit varies but is generally high enough to keep your credit utilization low (under 30%, ideally under 10%) while reflecting your income and creditworthiness, often starting around $1,000 for new users and potentially reaching tens of thousands for established individuals with excellent credit and income. A limit around $5,000-$10,000 is good for average users, while higher limits ($20k+) are for excellent credit and high earners. 

What percent of Americans have no debt?

About 23% of Americans are debt-free, according to recent Federal Reserve data, meaning roughly one in four adults carries no student loans, mortgages, car loans, or credit card balances. While many people aim for financial freedom, most households have some form of debt, with numbers varying by age and income, though debt is common across the spectrum.
 

What is a good credit score range?

A good credit score generally falls in the 670-739 range for FICO scores, indicating responsible credit use and good chances for loan approval with decent rates, while scores above 740 (Very Good) to 800+ (Exceptional) unlock the best loan terms and interest rates, with scores below 600 often making credit harder to get. Different models (FICO, VantageScore) use slightly different bands, but the overall trend is the same: higher is better, with 700+ being a solid target.
 

Are Americans finding it harder to pay off debt?

However, Thursday's report also showed that Americans appear to be having more difficulty dealing with that debt — specifically for auto loans and credit cards. The share of households becoming seriously delinquent (a missed payment for 90+ days) on their auto loans and credit cards are at 14-year highs.

What state has the worst credit card debt?

Alaska currently tops the list, with the average Alaskan consumer carrying $8,077 in credit-card debt as of Q3 2024. Alaska has historically ranked high in revolving-credit balances, but the latest increase reinforces that it remains the most indebted state on a per-consumer basis.

How many people have $10,000 in credit card debt?

1 in 4 Americans who carry credit card balances currently owe $10,000 or more in credit card debt. Key insights from a survey of 1,447 Americans who have a credit card and do not pay their bills in full*:

Which generation has the most debt?

Generation X (Gen X) generally holds the most debt on average, particularly in mortgages, auto loans, and credit cards, often due to being the "sandwich generation" supporting both children and parents, but Millennials have higher total consumer debt due to significant student loans, while Gen Z faces increasing debt loads, especially for education and housing. 

What is the credit card limit for $70,000 salary?

The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.

What is considered serious credit card debt?

If you're spending more than 36% of your income on all debt obligations (including your mortgage, car loans and credit cards), that's generally considered high. For credit card debt alone, any DTI ratio above 10% of your monthly income should raise concerns.

What is the 2 2 2 credit rule?

The 2-2-2 credit rule is a guideline for lenders, especially for mortgages, suggesting borrowers should have at least two active credit accounts, open for at least two years, with at least two years of on-time payments, sometimes also requiring a minimum credit limit (like $2,000) for each. It shows lenders you can consistently manage multiple debts, building confidence in your financial responsibility beyond just a high credit score, and helps you qualify for larger loans. 

Is it true that after 7 years your credit is clear?

It's partially true: most negative items like late payments and collections fall off your credit report after about seven years, but the debt itself might still exist, and bankruptcies last longer (up to 10 years). The 7-year clock starts from the date of the first missed payment, not when it goes to collections, and older negative info must be removed by law, though the debt isn't always forgiven. 

How much of a house can I afford if I make $70,000 a year?

With a $70,000 salary, you can generally afford a house between $210,000 and $350,000, but your actual budget depends heavily on your credit score, existing debts, down payment, and current mortgage rates, with lenders often following the 28/36 rule (housing costs under 28% of gross income, total debt under 36%). A good starting point is keeping your total monthly housing payment (PITI) under $1,633, but a lower Debt-to-Income (DTI) ratio and larger down payment increase your buying power. 

Can I get $50,000 with a 700 credit score?

What is considered a good CIBIL score to apply for a ₹50,000 personal loan? A CIBIL score of 710 and above is generally considered to be good when applying for a ₹50,000 personal loan. However, a higher score typically increases the likelihood of a loan approval and favourable interest rate.

What is the 777 rule with debt collectors?

The "777 Rule" (or 7-in-7 Rule) for debt collectors, established by the Consumer Financial Protection Bureau's Regulation F, limits phone calls to no more than seven times in a seven-day period for each specific debt, and requires a seven-day waiting period after a live phone conversation about that debt before calling again. This rule prevents harassment by setting clear caps on call frequency, with missed calls, voicemails, and attempted calls counting toward the limit, while also granting consumers the right to stop calls at work or via digital means. 

What is the 15-3 payment trick?

The "15" and "3" refer to the days before your credit card statement's closing date. Specifically, the rule suggests you make one payment 15 days before your statement closes and another payment three days before it closes.

What is considered excessive credit card debt?

Too much credit card debt is when it strains your budget (payments over 36% of income), you can only afford minimum payments, your credit utilization (balances vs. limits) exceeds 30%, or it causes significant stress, making it hard to meet other financial goals. Key indicators include high interest charges, relying on credit for essentials, juggling bills, and impacting your mental well-being.