Illinois residents increased their use of credit cards in the second quarter. | Pexels.com / Pixabay
Illinois residents increased their use of credit cards in the second quarter. | Pexels.com / Pixabay
Illinois’ average household credit card debt rose by $538 during the second quarter of 2022, the fifth highest increase among the 50 states, according to a new study from the personal-finance website WalletHub.
Over that three-month period, Illinois’ average household credit debt reached $7,874, which was the 24th highest average household credit card debt among the 50 states. U.S. consumers increased their collective credit card debt during Q2 by $67.1 billion – a Q2 record, WalletHub reported.
The rise in U.S. credit card debt in the second quarter was 350% greater than any of the Q2 averages recorded after the Great Recession, the analysis concluded. Compared to the first quarter of 2022, credit card debt was up by about 6% in the U.S. in Q2, according to WalletHub.
Nationwide, the average household credit card balance is $8,942, which is $2,995 below WalletHub’s estimated breaking point for family economics.
The analysis is based on an examination of the latest data from TransUnion, the Federal Reserve and the U.S. Bureau of Labor Statistics.
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Average Household Credit Card Debt Increases in Q2 2022
| Overall Rank (1=Biggest Increase) | State | Household Credit Card Debt | Household Credit Card Debt Increase | Total Credit Card Debt | Total Credit Card Debt Increase |
| 1 | California | $8,505 | $581 | $120,803,604,151 | $7,610,582,696 |
| 2 | Texas | $8,681 | $593 | $93,218,948,370 | $5,872,759,512 |
| 3 | Florida | $8,510 | $581 | $73,169,432,027 | $4,609,647,346 |
| 4 | New York | $8,214 | $561 | $66,043,541,605 | $4,160,718,866 |
| 5 | Illinois | $7,874 | $538 | $41,688,745,252 | $2,626,375,641 |
| 6 | Pennsylvania | $7,690 | $525 | $42,570,563,681 | $2,681,929,878 |
| 7 | Georgia | $8,699 | $594 | $36,121,229,543 | $2,275,624,196 |
| 8 | Ohio | $7,192 | $491 | $36,776,381,054 | $2,316,898,500 |
| 9 | North Carolina | $7,752 | $529 | $33,880,913,899 | $2,134,485,133 |
| 10 | Virginia | $9,176 | $627 | $31,671,939,330 | $1,995,320,546 |
| 11 | New Jersey | $8,956 | $612 | $31,765,864,773 | $2,001,237,815 |
| 12 | Michigan | $7,134 | $487 | $30,782,072,134 | $1,939,259,240 |
| 13 | Washington | $8,085 | $552 | $25,467,721,579 | $1,604,457,106 |
| 14 | Arizona | $7,906 | $540 | $22,655,832,726 | $1,427,309,141 |
| 15 | Maryland | $9,120 | $623 | $22,051,188,822 | $1,389,216,797 |
| 16 | Tennessee | $7,677 | $524 | $21,964,742,969 | $1,383,770,740 |
| 17 | Massachusetts | $8,116 | $554 | $23,289,912,709 | $1,467,255,947 |
| 18 | Colorado | $8,906 | $608 | $20,635,920,402 | $1,300,055,407 |
| 19 | Indiana | $6,932 | $473 | $19,558,193,900 | $1,232,159,033 |
| 20 | Missouri | $7,402 | $505 | $19,579,818,161 | $1,233,521,353 |
| 21 | Minnesota | $7,215 | $493 | $17,270,529,841 | $1,088,037,037 |
| 22 | South Carolina | $8,221 | $561 | $17,481,070,785 | $1,101,301,039 |
| 23 | Wisconsin | $6,553 | $448 | $16,891,609,351 | $1,064,165,186 |
| 24 | Alabama | $7,791 | $532 | $15,950,943,294 | $1,004,903,569 |
| 25 | Louisiana | $8,003 | $547 | $15,199,765,321 | $957,579,633 |
| 26 | Connecticut | $9,088 | $621 | $13,649,201,657 | $859,894,692 |
| 27 | Oklahoma | $8,136 | $556 | $13,172,959,740 | $829,891,626 |
| 28 | Kentucky | $6,994 | $478 | $13,253,973,843 | $834,995,484 |
| 29 | Oregon | $7,477 | $511 | $13,313,022,390 | $838,715,521 |
| 30 | Nevada | $7,909 | $540 | $9,688,372,829 | $610,363,930 |
| 31 | Kansas | $7,553 | $516 | $9,350,400,732 | $589,071,812 |
| 32 | Mississippi | $7,297 | $498 | $8,833,020,827 | $556,477,068 |
| 33 | Iowa | $6,458 | $441 | $8,918,879,661 | $561,886,143 |
| 34 | Arkansas | $7,214 | $493 | $9,153,408,339 | $576,661,364 |
| 35 | Utah | $8,527 | $582 | $9,274,816,153 | $584,310,011 |
| 36 | New Mexico | $7,521 | $514 | $6,463,772,544 | $407,215,296 |
| 37 | West Virginia | $7,207 | $492 | $5,736,651,978 | $361,406,968 |
| 38 | Nebraska | $6,956 | $475 | $5,780,754,671 | $364,185,421 |
| 39 | Hawaii | $10,190 | $696 | $5,169,195,713 | $325,657,432 |
| 40 | Idaho | $7,442 | $508 | $5,238,095,037 | $329,998,064 |
| 41 | New Hampshire | $8,427 | $576 | $4,925,113,266 | $310,280,327 |
| 42 | Maine | $7,091 | $484 | $4,378,044,701 | $275,815,208 |
| 43 | Rhode Island | $7,787 | $532 | $3,501,056,125 | $220,565,250 |
| 44 | Montana | $7,614 | $520 | $3,599,110,364 | $226,742,631 |
| 45 | Delaware | $8,360 | $571 | $3,361,998,991 | $211,804,702 |
| 46 | Alaska | $11,277 | $770 | $3,119,394,417 | $196,520,703 |
| 47 | South Dakota | $7,152 | $488 | $2,697,120,942 | $169,917,629 |
| 48 | North Dakota | $7,080 | $483 | $2,462,561,297 | $155,140,457 |
| 49 | Wyoming | $7,975 | $545 | $2,016,319,602 | $127,027,394 |
| 50 | Vermont | $7,351 | $502 | $2,094,723,299 | $131,966,799 |
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