WalletHub: New Jersey ranks 9th among the states with the highest credit card debt increases

NEW JERSEY – New Jersey ranks 9th among the states with the highest credit card debt increases, according to a WalletHub study.

The personal-finance company WalletHub today released its latest rankings of the States With the Largest & Smallest Credit Card Debt Increases, based on newly released data from the Federal Reserve.

New Jersey Stats

• Increase in New Jersey Debt: The average credit card debt in New Jersey increased by $850,978,265 in Q2 2025.
• Average New Jersey Household Debt: The average household in New Jersey owes $12,873 in credit card debt.
• New Jersey Rank: New Jersey’s credit card debt increase ranks as the 9^th highest in the nation.

National Stats

• Q2 Results: At $28 billion, the increase in credit card debt during Q2 2025 was around 21% smaller than the increase in Q2 2024.
• Debt Is Well Below the Peak: Total credit card debt as of Q2 was roughly $1.32 trillion on an inflation-adjusted basis, which was about 13% below the record high.
• Household Debt Has Some Breathing Room: The average household credit card balance was around $10,951 at the end of Q2 2025, after adjusting for inflation. That’s $2,062 below the record high.
• Early Q3 Returns: Preliminary data for July shows a 0.4% increase in credit card debt compared to the same month last year.
• Best Balance Transfer Credit Cards: The best balance transfer credit cards currently offer 0% APRs for up to 24 months, with no annual fees and low balance transfer fees.