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?

The credit card hologram was first introduced by MasterCard in 1983 in an effort to combat counterfeit and fraudulent activity.