This State Needs to Put Its Credit Cards in the Freezer

Alaska has the most credit card debt in America
By Jenn Gidman,  Newser Staff
Posted Jul 28, 2020 2:49 PM CDT
10 States With Highest, Lowest Plastic Debt
Stock photo.   (Getty Images/Farknot_Architect)

Many people are struggling with money as the pandemic continues, and resorting to plastic has become even more of a crutch. WalletHub looked at all 50 states and the District of Columbia, using TransUnion credit data to review each state's median credit-card balance and monthly credit-card payment, assuming a 15.78% interest rate. The analysis didn't include store cards. Turns out Alaska may need some serious credit counseling soon, while Mississippi seems to have the most sustainable debt. Read on for the 10 states with the highest debt burden:

  1. Alaska
  2. District of Columbia
  3. Colorado
  4. Vermont
  5. Washington
  6. Oregon
  7. Kansas
  8. Virginia
  9. Idaho
  10. Texas
Read on for the states where credit card debt isn't as burdensome.

  1. Kentucky
  2. Tennessee
  3. Iowa
  4. Arkansas
  5. Hawaii
  6. Pennsylvania
  7. West Virginia
  8. Wyoming
  9. Alabama
  10. Mississippi
See how other states fared here. (Here are the states where jobs have taken the biggest COVID-19 hit.)

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