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Hawai‘i has second-highest credit card debt in nation

June 21, 2012
The Maui Weekly

Pacific Business News - Hawai'i consumers' credit card debt rose to the second-highest amount in the nation last month, according to data from CreditKarma.com.

Hawai'i consumers had an average of $7,250 in credit card debt in May, which was 3 percent higher than the $7,063 in credit card debt from May 2011. It was also an increase from the April average, which was $7,090.

The Hawai'i numbers went against the national trend toward less credit card debt. CreditKarma said that nationally, credit card debt declined slightly from April to an average of $5,637.

Student loan debt in Hawai'i did follow the national average, declining to $26,610 in May from $28,058 in May 2011. Nationally, average student loan debt fell 2 percent to $29,088.

Meanwhile, credit scores in Hawai'i fell one point to 677 in May, from 678 in April. Nationally, the average credit score was 656, three points lower than the previous month. Delaware was the only state to increase its credit score last month, CreditKarma said.

 
 
 

 

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