Here’s How Much Gen Z Has in Credit Card Debt in Each State

Gen Z is often known as the generation who’s financially insecure and unsure, characterized by careless spending and being deep in debt. Well, this characterization might have a ring of truth to it: the average Gen Zer credit card debt is on the rise.

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In a recent Experian study, they took a look at the leading edge of Generation Z, those between 18 and 26 years old as of Q3 2023.

Starting with the good news, the average Gen Z credit score is also on the rise. Here’s how the current average FICO score and credit card debt for Gen Zers shakes out:

• Average FICO Score: 680
• Average credit card balance: $3,262

To put these figures into perspective, the average Gen Z FICO score is up 6 points from an average of 674 in 2020. This lands the average Gen Zer 35 points short of the national average credit score of 715. According to FICO, this puts the average Gen Zer in the “good” range, which starts at 670.

However, their credit card debt is up from an average of $2,854 in 2022. This represents a whopping 14.3% increase in just one year.

It’s worth noting that the average credit card of every other generation is also on the rise, up through and including the Silent Generation (age 78+). The current average credit card debt of all U.S. consumers hovers at around $6,501.

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Gen Z Is Embracing Buy Now, Pay Later Services

Just about everything costs more these days: housing, groceries, utilities, and more. So, it’s not surprising news that Gen Z is one of the biggest adopters of buy now, pay later (BNPL) services these days. However, other generations are catching up too. Buy now pay later service Afterpay reported that three-quarters of both Gen Zers and Millennials reported using buy now, pay later in the past month. This is compared with just half of Gen Xers.

Average Credit Gen Z Credit Card Debt By State

Here’s the average Gen X credit card debt by state, according to recent data from Experian:

1. Alabama: $2,878
2. Alaska: $3,292
3. Arizona: $3,319
4. Arkansas: $2,753
5. California: $3,516
6. Colorado: $3,559
7. Connecticut: $3,634
8. Delaware: $3,202
9. Florida: $3,721
10. Georgia: $3,371
11. Hawaii: $3,793
12. Idaho: $2,667
13. Illinois: $3,201
14. Indiana: $2,666
15. Iowa: $2,514
16. Kansas: $2,896
17. Kentucky: $2,590
18. Louisiana: $2,864
19. Maine: $2,764
20. Maryland: $3,385
21. Massachusetts: $3,390
22. Michigan: $2,769
23. Minnesota: $2,877
24. Mississippi: $2,585
25. Missouri: $2,798
26. Montana: $2,954
27. Nebraska: $2,738
28. Nevada: $3,587
29. New Hampshire: $3,186
30. New Jersey: $3,671
31. New Mexico: $2,890
32. New York: $3,845
33. North Carolina: $3,103
34. North Dakota: $2,907
35. Ohio: $2,742
36. Oklahoma: $2,907
37. Oregon: $2,944
38. Pennsylvania: $2,957
39. Rhode Island: $3,274
40. South Carolina: $3,001
41. South Dakota: $2,631
42. Tennessee: $3,031
43. Texas: $3,466
44. Utah: $2,764
45. Vermont: $3,454
46. Virginia: $2,915
47. Washington: $3,243
48. West Virginia: $2,702
49. Wisconsin: $2,524
50. Wyoming: $2,928

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