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. 
- 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. 
Credit Card Delinquency in MN
- Cardholders that are more than 90 days late on credit card payments in Minnesota 
- 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 
- 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. 
- 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. 
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. 
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. 
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.  
Additional information about Minnesota
The state of Minnesota has a population of approximately 5,303,925, ranking 21st in the nation. 
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?
The first few numbers (even the very first number) of a credit card can reveal a lot. For example, Visa credit cards begin with a 4.
1. ^ The Washington Post
2. ^ TransUnion
3. ^ Equifax
4. ^ Minnesota State Legislature
5. ^ United States Census Bureau
6. ^ U.S. Federal Reserve