Does Colorado Have The Highest Credit Card Debt In The Nation?

A new study claims that Colorado has some of the highest credit card debt in the nation.

WalletHub conducted a study to find the states with the highest and lowest credit card debts.

According to the site, Americans owed nearly $900 billion in credit card debt at the beginning of 2021.

In order to determine each state's credit card debt, WalletHub data analysts referred to TransUnion credit data.

Based on their findings, Colorado has the fourth-highest credit card debt in the nation.

However, in terms of the highest median credit card debt, the data shows that Colorado actually has the second-highest.

“That’s where Colorado ranked second highest; second only to Alaska. Twice as high as someone in Wisconsin or Maine. So that was really a downfall,” Jill Gonzalez, an analyst with WalletHub told KDVR.

The median credit card balance of the average Coloradan is around $2,576.

These are the top 10 states with the highest credit card debt:

1. Alaska
2. Montana
3. District of Columbia
4. Colorado
5. Vermont
6. North Dakota
7. Kansas
8. Washington
9. Oregon
10. Nebraska

These are the top 10 states with the lowest credit card debt:

1. South Dakota
2. Mississippi
3. Alabama
4. Hawaii
5. New York
6. Pennsylvania
7. Iowa
8. Ohio
9. Oklahoma
10. Illinois

To read the full study, click here.