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California  + Retail  | 

California Posts Country’s Biggest Q2 Credit Card Debt Increase

U.S. consumers racked up $35.6 billion in credit card debt during Q2 2019, an all-time record for the second quarter of the year. Research by WalletHub shows California is responsible for roughly $4.4 billion of that increase, and accounts for the biggest Q2 credit card debt increase.

The average household in California owes $10,175 in credit card debt, following a $341 Q2 increase. Texas households owed the second most credit card debt at $10,055, followed by Florida ($9,278) and New York ($9,515).

WalletHub notes credit card debt statistics speak to the financial health of American households. They can also foreshadow over-borrowing bubbles, changes to lending standards, and other trends with the potential to impact consumers’ wallets.

The study found Americans began 2019 owing more than $1 trillion in credit card debt. Although the forecast initially appeared brighter, thanks to consumers repaying $38.2 billion in credit card debt during Q1 2019, the poor second-quarter results nearly erased those gains.

2019 Credit Card Debt Increase by State

Rank

State

Total Credit Card Debt Q2
Total Credit Card Increase
Household Credit Card Debt
Increase Q2

1

California

$124,949,482,369

$4,397,326,118

$10,175

$341

2

Texas

$90,352,243,405

$3,179,751,306

$10,055

$337

3

Florida

$66,399,677,743

$2,336,792,691

$9,278

$311

4

New York

$66,208,879,303

$2,330,077,954

$9,515

$319

5

Illinois

$41,623,292,294

$1,464,841,525

$9,066

$304

6

Pennsylvania

$39,037,363,299

$1,373,835,361

$8,182

$274

7

Georgia

$33,762,382,790

$1,188,193,859

$9,673

$324

8

Ohio

$33,322,855,881

$1,172,725,662

$7,548

$253

9

North Carolina

$31,458,576,759

$1,107,116,401

$8,522

$286

10

Virginia

$31,011,697,130

$1,091,389,441

$10,480

$351

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at WalletHub Credit Card Debt Study

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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