The average outstanding credit card balance was $4,951 during the second quarter, a drop of 13.4%, according to a report issued by the credit reporting company TransUnion.
It is the fifth consecutive quarterly decline and was the first quarter when debt was below $5,000 since the first quarter of 2002. The company declines borrower debt as the aggregate balance on all bank-issued credit cards.
Alaska had the highest average debt, $7,148, and Iowa had the lowest, $3,792.
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