Minnesota credit card holders average $4,541 debt – and that's low

Author:
Publish date:

The average Minnesota borrower has $4,541 in credit card debt, according to credit rating agency TransUnion. Sound like a lot? It's not, when it's compared with other states – Minnesota ranks 43rd.

The Washington Post has a new map with state data that shows Minnesota has among the lowest debt rates per borrower of any state in the nation.

States with the highest debt:

1. Alaska, $6,910 per credit card holder
2. Colorado, $5,625
3. Connecticut, $5,617
4. North Carolina, $5,548
5. District of Columbia, $5,499

States with the least debt:

43. Minnesota, $4,541

47. West Virginia, $4,315
48. Nebraska, $4,298
49. South Dakota, $4,236
50. North Dakota, $4,011
51. Iowa, $3,885

In a separate report, TransUnion reported last week that credit card delinquencies and debt hover near historic lows nationwide.

Minnesota is also near the bottom of a list of states ranked by credit card delinquencies (more than 90 days past due).

In a related ranking done last fall, Minneapolis ranked at the top among cities for credit score ratings.

Next Up

Related