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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?

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.

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