Average Credit Card Debt in the U.S.

Meanwhile, millennials across the U.S. carry average credit card debt of $6,932, according to Experian.³

That's considerably higher than the average for two other generations (Generation Z and the silent generation). Generationally speaking, Experian found another notably high average credit card debt number for Generation X (born between baby boomers and millennials): $9,557.³

Beyond these averages, it’s also clear that total credit card use is on the rise. The Federal Reserve Bank of New York reported that aggregate credit card debt in the U.S. totaled $1.21 trillion for the second quarter of 2025. That's up $27 billion throughout that quarter.⁴ Separately, the Federal Reserve reported that as of July 2025, revolving credit, which is mostly credit card debt, rose 9.7% year over year and stood near $1.3 trillion.⁵

Looking at households, the third quarters of 2023 saw total household debt (including credit cards, home mortgages, home equity loans, student loans, auto loans, and other types of debt) rise by $185 billion to $18.39 trillion total.⁴

Again, it’s important to note that not all of that credit card debt is interest-bearing. The Federal Reserve Bank of New York found that 60% of Americans carry at least some credit card balance from month to month, and therefore incur interest-bearing debt.⁶ The average interest rate for credit card accounts that are assessed interest was nearly 22.25% for May 2025, according to the Fed.⁵

The CFPB estimates that Americans paid a total of about $100 billion in interest on credit card debt by the end of 2022.¹