NH ranks 10th among states with lowest credit card debt increases: study

The personal-finance website WalletHub today released its latest rankings of the States with the Largest and Smalles Credit Card Debt Increaes in Q2, based on newly released data from the Federal Reserve.

New Hampshire Stats:

• Increase in New Hampshire Debt: The average credit card debt in New Hampshire increased by $184,614,897 in Q2 2023.
• Average New Hampshire Household Debt: The average household in New Hampshire owes $8,171 in credit card debt.
• New Hampshire Rank: New Hampshire's credit card debt increase ranks as the 10^th lowest in the nation.

National Stats:

• Large Debt Increase. Consumers ended Q2 2023 with almost $43 billion in additional credit card debt. That is the second-largest Q2 increase ever.
• Year-Over-Year Deterioration. We added 16% more credit card debt in Q2 2023 than the same quarter last year.
• Early Q3 Returns: Preliminary data for July shows a 7.72% increase in credit card debt compared to the same month last year.
• High Average Household Debt. The average household credit card balance was $10,170 at the end of Q2 2023. That's $2,242 below the record, set in Q4 2007.
• Best Balance Transfer Credit Cards. The best balance transfer credit card is the Citi Simplicity® Card. It offers a 0% introductory APR for the first 21 months, does not charge an annual fee, and has a competitive balance transfer fee.