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Mapping Credit Card Delinquency Rates in the U.S. by State

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Credit Card Delinquency Rates in the U.S. by State

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Credit card debt carries a hefty bill in America, and falling behind on payments can be extremely costly for cardholders.

This graphic shows credit card delinquency rates across 50 U.S. states, as of Q3 2023. This data comes from a WalletHub study published in January 2024.

Which States Have the Lowest and Highest Delinquency Rates?

Credit card delinquency is when a cardholder falls behind on required monthly payments. Credit agencies are often notified after two months of delinquent payments.

WalletHub examined proprietary user data on the average number of delinquent credit card tradelines—also known as credit accounts—across states. Here they are from lowest to highest:

Rank State Share of Credit Card
Tradelines Delinquent (%)
1 Iowa 12.9
2 Massachusetts 13.9
3 Hawaii 13.9
4 Rhode Island 14.7
5 Washington 14.7
6 Florida 14.8
7 New York 14.9
8 California 15.1
9 New Hampshire 15.5
10 Alaska 15.6
11 New Jersey 15.6
12 Colorado 15.7
13 Utah 15.8
14 Vermont 16.1
15 Montana 16.1
16 Illinois 16.5
17 Oregon 16.6
18 Idaho 17.0
19 Ohio 17.5
20 Connecticut 17.8
21 Maine 18.0
22 Nebraska 18.1
23 Wyoming 18.1
24 Maryland 18.4
25 Kansas 18.4
26 Wisconsin 18.5
27 Virginia 18.7
28 Nevada 19.1
29 South Dakota 19.3
30 Arizona 19.8
31 Minnesota 19.8
32 Pennsylvania 20.2
33 Michigan 20.9
34 North Dakota 21.3
35 Delaware 21.4
36 Missouri 22.4
37 New Mexico 22.6
38 Georgia 23.1
39 North Carolina 24.0
40 Indiana 24.3
41 Texas 24.7
42 West Virginia 25.2
43 Tennessee 26.2
44 South Carolina 26.9
45 Kentucky 27.6
46 Oklahoma 28.2
47 Arkansas 30.1
48 Alabama 30.5
49 Louisiana 31.7
50 Mississippi 39.1

No state had credit delinquency rates of less than 10%, with Iowa coming the closest at 12.9%.

That puts Iowa ahead of wealthier states like Massachusetts (13.9%), Washington (14.7%), and New Hampshire (15.5%).

At the bottom end was Mississippi, which had 39% credit delinquency rates to end 2023. That’s well ahead of the next-lowest states Louisiana (31.7%) and Alabama (30.5%).

It’s notable that the American South had higher rates of delinquency almost across the board. The five states with the highest rates of credit card delinquency are all located in the southeastern region of the country, and Texas had a higher delinquency rate (25%) than other majorly populated states like Florida (14.8%) and New York (14.9%).

The post Mapping Credit Card Delinquency Rates in the U.S. by State appeared first on Visual Capitalist.

Source
America
United States