Which states have the highest and lowest credit card debt?
Recent reports have shown that credit card interest rates are on the rise. But the good news is that consumers are spending less on credit cards and the average credit card debt has recently dropped 4.1 percent to $4,951, according to a report by the credit bureau, TransUnion. But a few states are above the average in credit card debt. The highest credit card debt "winner" is Alaska, where the average is $7,148. Tennessee comes in second with an average credit card debt of $5,654. Third is Hawaii, with an average credit card debt of $5,594.
If we look at the other end of the spectrum, Iowa takes top honors with the lowest average credit card debt at $3,792. But Alabama deserves an honorable mention for experiencing a 22 percent decline in quarter-over-quarter credit card debt. You can read an excellent analysis of the report on CNNMoney.com.
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