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South Dakota Ranks 5th among the States Where Consumer Debt is Increasing the Most.
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SD in top five for adding the most debt

UNDATED – Americans owe more than $2.7 trillion on their auto loans and credit cards alone, and the personal-finance website WalletHub today released its report on the States Where Consumers Are Adding the Most Debt to show where people are having the toughest time. WalletHub ranked the states where credit card, auto loan, and personal loan debt increased the most from Q3 2023 to Q4 2023 based on its proprietary data.

This report comes on the heels of our recent analysis of the Household Debt Report.

South Dakota Stats

  • Overall Rank: 5th
  • Credit card debt: The average credit card balance in South Dakota increased by 2.79% from Q3 2023 to Q4 2023, and reached $5,912.
  • Auto loan debt: The average auto loan balance in South Dakota increased by 3.01% from Q3 2023 to Q4 2023, and reached $25,434.
  • Personal loan debt: The average personal loan balance in South Dakota increased by 5.84% from Q3 2023 to Q4 2023, and reached $10,482.

For the full report, please visit:
https://wallethub.com/edu/states-where-consumers-are-adding-the-most-debt/133119

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