Americans are drowning in credit card debt: US household credit card debt hit a record 1.33 trillion in August. The combined average credit card balance across all age groups is now at whopping 10,668 PER household. States with the largest average debts in Q2 2025 were Hawaii at 15,100, California at 13,800, and Alaska at 13,600. Other high-debt states include New York at 12,900, Texas at 12,800, and Florida at 12,600. Credit card debt continues to skyrocket.(The Kobeissi Letter)