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Comprehensive Local Credit Card Guide

Minnesota Credit Cards

Credit Card Debt in MN

^ Minnesota residents have average credit card debt of $4,541, which ranks 43rd in the nation. [1]

Credit Card Info in MN by City

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Credit Card Delinquency in MN

^ The credit card delinquency rate for Minnesota residents is 0.37%, which ranks 48th in the U.S. [2]

MN Credit Cards

Minnesota Credit Card & Personal Finance Statistics

Minnesota Credit Card Debt


  • Credit Card Debt: MN vs. U.S.
    • Minnesota residents have average credit card debt of $4,541. [1]
    • The average credit card debt amount in Minnesota is 9% less than the national average of $4,965.
    • MN ranks 43rd in the nation in average credit card debt. [1]

Credit Card Delinquency in MN


  • Cardholders that are more than 90 days late on credit card payments in Minnesota [2]
    • Minnesota ranks 48th in the nation with a credit card delinquency rate that is 35% less than the national average of 0.57%.
    • Minnesota Rate: 0.37%
    • National Average: 0.57%
  • Statute of limitations for credit card debt in Minnesota [4]
    • Minnesota: 6 years
    • U.S. Average: 5.4 years

Minnesota Credit Scores


  • Credit Scores: MN vs. U.S.
    • Minnesota residents have an average credit score of 720. [3]
    • The average credit score for Minnesota residents is 3% greater than the national average score of 696.
    • MN ranks 3rd in the nation in average credit score. [3]

Minnesota Demographics

Income Breakdown in Minnesota

The state of Minnesota has a median household income is $61,226. Approximately 12 percent of households in MN have incomes below the poverty level. [5]



Household Income: Minnesota vs. U.S.

The median household income in the state of Minnesota is approximately 5 percent more than the median income for the United States in its entirety.

For the nation as a whole, the median household income is $58,283, versus the Minnesota median household income of $61,226. [5]


Age Breakdown in Minnesota

In Minnesota, just under 74 percent of state residents meet the minimum age requirement to own a credit card in their own name without a co-signer. [5] [6]



Additional information about Minnesota

About Minnesota

The state of Minnesota has a population of approximately 5,303,925, ranking 21st in the nation. [5]

MN Credit Cards

More about Minnesota Credit Cards

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

Did you know?

Alaska residents had the highest average credit card debt in the nation in 2013, at $6,910 per cardholder.

Minnesota Cities

Minnesota ZIP Codes


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References

1. ^ The Washington Post

2. ^ TransUnion

3. ^ Equifax

4. ^ Minnesota State Legislature

5. ^ United States Census Bureau

6. ^ U.S. Federal Reserve