(The Center Square) – Credit card debt continues to rise to all-time record highs in the United States. However, a recent study shows Indiana residents aren’t reaching for their plastic nearly as much.
According to the report by WalletHub, Indiana had the third-lowest average household credit card debt at $6,779 during the second quarter of the year. That grew by $283 from the first quarter, and again, Indiana had the third-smallest increase in the nation.
The report used data from TransUnion and the Federal Reserve to come up with the totals and averages, both of which have also been adjusted for inflation.
In terms of total debt, Hoosiers have amassed a total credit card debt of $20.97 billion, an increase of $743.2 million since the first quarter of the year. That was good for 19th overall in the study, but by comparison, Indiana’s population of 6.8 million is the 17th-largest in the country.
Nationally, Americans added nearly $43 billion to their card balances, the highest increase ever for a second quarter, according to WalletHub. It also nearly offset the $45.4 billion decrease experienced during the first quarter of the year.
The overall balance due stands at more than $1.2 trillion.
None of Indiana’s neighbors had lower averages. Kentucky ranked fifth-lowest at $6,809. Ohioans also are watching what they spend. Their average balance of $6,862 is the 10th-lowest nationally.
Michigan also ranked among the lowest, as its average of $7,036 was just behind Ohio’s. Illinois households carry an average debt of $8,046, which is the 20th-highest nationally.
WalletHub found that Wisconsin families carry the least credit card debt, with an average of $6,208.
The highest averages can be found outside the continental U.S. Hawaiians owe $10,637 per household, and the average in Alaska is $10,142. Both states also had the highest increases in the second quarter, at $445 and $424, respectively.
