The average person's credit card balance varies significantly by country and age, but in the US, it's around $7,000-$9,000, with Gen X often having the most debt and younger generations carrying rising balances, while in Australia, figures hover around $3,500, with total debt growing. Key factors like high interest rates (around 20%) and increased living costs contribute to these rising balances, making it harder to pay down debt.
The average credit card balance in the UK is £1,675, as of May 2023. 78% of UK adults have at least one form of consumer credit. Individuals collectively borrowed a net £0.6 billion on credit cards, in July 2022. 21.6 million in the UK used cash either once a month or not all, in 2022.
The rule of thumb is to keep your credit card balance below 30% of your total available credit. If your credit limit is $2,000, you should aim to keep your balance below $600.
The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.
Key Takeaways
The U.S. consumer has an average credit card balance of $6,519, according to TransUnion's October 2025 Credit Industry Snapshot Report.
U.S. consumers carry $6,501 in credit card debt on average, according to Experian data, but if your balance is much higher—say, $20,000 or beyond—you may feel hopeless. Paying off a high credit card balance can be a daunting task, but it is possible.
The best credit card that is rumored to have a $100,000 credit limit is the Chase Sapphire Preferred® Card. While Chase does not publicly disclose the highest credit line available for the card, there are online reports of people getting around $100,000 in spending power, or even more.
The 2/3/4 Rule is an informal guideline, primarily used by Bank of America, that limits how many new credit cards you can be approved for: two in a two-month (or 30-day) period, three in a 12-month period, and four in a 24-month period, helping lenders manage risk from frequent applications and "churning" for bonuses. It's a rule for applicants, not a limit on how many cards you should have, but a strategy for managing applications to avoid automatic denials.
The 2-2-2 credit rule is a guideline lenders use to assess a borrower's creditworthiness, requiring two active revolving credit accounts, open for at least two years, with a history of on-time payments for those two consecutive years, often with a minimum limit of $2,000 per account, to show financial stability for larger loans like mortgages. It demonstrates you can handle multiple credit lines responsibly, not just have a good score, building lender confidence.
Ways to improve your credit score
People ages 40-49 tend to carry the highest average debt, largely because of home mortgages and other long-term loans. Not all debt is bad debt. Mortgages and student loans are considered better forms of debt than credit cards and auto loans.
Generally speaking, negative information such as late or missed payments, accounts that have been sent to collection agencies, accounts not being paid as agreed, or bankruptcies stays on credit reports for approximately seven years.
However, transitioning from fair to good credit (700-749) might take a few additional years of responsible credit behavior. Reaching an excellent credit score (750 and above) is generally a long-term goal and may require at least five to ten years of consistently responsible credit habits.
Average Credit Card Debt by Age Range:
18-35: $4,070. 35-44: $6,370. 45-54: $6,660.
Building credit in your 30s is crucial because it can lay the foundation for your financial future. Credit scores impact buying a home, investing in a business, and getting loans. The better the credit score, the smoother the process is of doing these things.
Here are the cards the ultra wealthy keep to themselves.
The Credit Limit for a Credit Card should not be more than twice the monthly income of an individual.
On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
3 Credit card habits to help build a solid credit score
Yes, though rare, it is possible to have a 900 credit score. It represents exceptional creditworthiness and is a result of long-term financial discipline. An individual with this score has never missed a bill payment or defaulted on a loan and has consistently maintained their debt-to-income ratio.
The average credit score in the United States is 705, based on VantageScore® data from March 2024. It's a myth that you only have one credit score. In fact, you have many credit scores, because there are many different types of credit scores and scoring models. It's a good idea to check your credit scores regularly.