Credit card debt in Hawaii grows at fastest clip in the nation
HONOLULU, Hawaii (HawaiiNewsNow) - Credit card debt in Hawaii grew by 3.4% in the first quarter of 2019 compared to the same period last year ― the biggest year-over-year growth in the nation, according to credit reporting agency Experian.
Experian said the average credit card debt in Hawaii is now nearly $6,500.
That’s about $500 more than the national average, but isn’t the highest in the nation.
Alaskans actually carry the most credit card debt on average, at about $7,700. New Jersey and Connecticut round out the top three, with about $6,800 in debt on average.
Iowans have the least credit card debt on average ― about $4,600.
Also worth noting: The average credit card debt in Urban Honolulu is about $6,600, Experian reports. That’s up about 3% from the same period last year.
About 6 in 10 Americans carry a credit card. In the first quarter of 2019, total credit card debt in the United States was $807 billion, which is up 29% from five years ago.
Copyright 2019 Hawaii News Now. All rights reserved.
