Michigan Credit Cards

Michigan Credit Card Debt

• Credit Card Debt: MI vs. U.S.
• • Michigan residents have average credit card debt of $4,558. ^[1]
  • The average credit card debt amount in Michigan is 8% less than the national average of $4,965.
  • MI ranks 41st in the nation in average credit card debt. ^[1]

Credit Card Delinquency in MI

• Cardholders that are more than 90 days late on credit card payments in Michigan ^[2]
• • Michigan ranks 27th in the nation with a credit card delinquency rate that is 4% less than the national average of 0.57%.
  • Michigan Rate: 0.55%
  • National Average: 0.57%
• Statute of limitations for credit card debt in Michigan ^[4]
• • Michigan: 6 years
  • U.S. Average: 5.4 years

Michigan Credit Scores

• Credit Scores: MI vs. U.S.
• • Michigan residents have an average credit score of 697. ^[3]
  • The average credit score for Michigan residents is 0% greater than the national average score of 696.
  • MI ranks 31st in the nation in average credit score. ^[3]

About Michigan

The state of Michigan has a population of approximately 9,883,640, ranking 10th in the nation. ^[5]

More about Michigan Credit Cards

For more information about Michigan credit cards, or for additional resources regarding credit cards overall, visit Consumer Financial Protection Bureau.

Did you know?

A lot can be learned by looking at the first digits of a credit card. For example, MasterCards all begin with numbers between 51 and 55.