WEST PALM BEACH, Fla. — Credit card debt is climbing across the United States, and Florida residents are feeling the pinch more than most.
A new study by Achieve, a digital personal finance company, reveals that Florida has the 6th highest average credit card debt per person in the country. The analysis, based on Federal Reserve Bank of New York data, shows some concerning trends for Sunshine State residents.
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Florida residents carry an average credit card balance of $5,050, which represents a $210 increase from the same period last year. Alaska tops the list with the highest average balance at $5,250 per person, while seven states now have residents owing an average of $5,000 or more in credit card debt.
The findings highlight a nationwide trend of rising consumer debt, with every single state seeing increases in credit card balances compared to last year.
For those interested in seeing how their state compares, Achieve has published the complete rankings of states with the highest and lowest credit card debt levels at achieve.com.
