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Floridians’ credit card debt is increasing. According to a recent report by WalletHub, the state’s overall credit card debt reached $66.4 billion in the year’s second quarter, up by $2.3 billion. That’s the third-highest increase of any state since the first quarter this year.
“Credit card debt statistics speak to the financial health of American households,” the report said. “They can also foreshadow over-borrowing bubbles, changes to lending standards and other trends with the potential to impact our wallets.”
WalletHub’s data is based on information from the U.S. Federal Reserve, U.S. Census Bureau and TransUnion. California had the largest increase in credit card debt over the same period (up $4.4 billion to $124.9 billion) followed by Texas (up $3.2 billion to $90.3 billion).
Florida’s average household credit card debt was $9,278 in 2019′s second quarter, up $311 on average.
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