NEW MEXICO (KRQE) – According to a new WalletHub study, the combined credit card debt in the United States is over $1.2 trillion. But which state is racking up debt the fastest? The study looked at the latest data from TransUnion and the Federal Reserve to find out the increase in credit card debt between the first and second quarters of Fiscal Year 2023.
New Mexico came in at 36th with an average household credit card debt of $7,569. The study states that New Mexcian households added an average of $316 to the date making a combined debt increase of $252,364,466. The state’s $7,120,402,432.
Coming in at number one is the state of California with a household increase of $409 for a total of $5,412,310,336. California’s combined total credit card debt clocks in at $152,707,028,131.
Wyoming’s debt increased the least and is now at $73,926,441. The state added an average of $321 to the average household debt of $7,667.
