Average Credit Card Debt in the United States

What was the average credit card debt in the United States in 2022?

• $5,441

• $5,939

• $6,569

• $7,872

Which ranking corresponds to the state with the highest average credit card debt according to the image?

• #43

• #50

• #1

• #25

What is the average credit card debt of the state ranked #50?

• $5,441

• $5,939

• $6,569

• $7,872

What is the average credit card debt of the state ranked #1?

• $5,441

• $5,939

• $6,569

• $7,872

What is the average credit card debt of the state ranked #43?

• $5,441

• $5,939

• $6,569

• $7,872

What is the first step in using credit according to the image?

• Pay back the loan with interest

• Buy the things you want

• Borrow the money (with credit card or loan)

• Save money for future purchases

What must you do when you use credit to make a purchase?

• Pay back the loan later with interest

• Exchange goods instead of paying with money

• Never pay back the borrowed money

• Only purchase items on sale

According to the image, what can you do after borrowing money with credit?

• Start a new business

• Buy the things you want

• Invest in the stock market

• Donate to charity

What type of credit can be used repeatedly up to a certain limit?

• Auto loan

• Home loan (mortgage)

• Credit Cards

• Home Equity Line of Credit (HELOC)

Which of the following is an example of closed-end credit?

• Credit Cards

• Home Equity Line of Credit (HELOC)

• Home loan (mortgage)

• Personal loan with flexible repayment