HONOLULU (HawaiiNewsNow) – Hawaii has the second-highest credit card debt per borrower in the country — and that debt is rising, a new analysis from Moneywise.
Hawaii’s average credit card borrower owes $4,260, up 14% from last year amid rising inflation. The total debt average in Hawaii is third overall in the US at $82,650 per borrower.
Alaska has the highest credit card debt while Mississippi has the lowest.
Moneywise analyzed data from the Federal Reserve Bank of New York released in May 2023 to determine rank states by their debt levels.
Moneywise said that the most common expenses charged on credit cards are for emergencies, including medical bills and groceries.
Source : HawaiiNewsNow
