DAYTON — American credit card debt has reached $1.3 trillion, amid an inflation rate that jumped to its highest point since 2023. Despite this, some positive trends are emerging for consumers with good credit.
For those with good credit, the average credit card interest rate is 21.1%, a decrease from the final quarter of 2025.
Personal finance company WalletHub reports that credit card companies continue to offer 0% interest on balance transfers, with terms extending beyond 12 months.
WalletHub Analyst Chip Lupo indicated that current financial conditions represent an improvement over previous years. “We are better than we were a year ago, particularly maybe four or five years ago,” Lupo said.
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Lupo highlighted the importance of individuals managing their spending to see further financial benefits. “People have got to rein in the spending,” Lupo said. “Because I think once people start burning in the spending, you’ll see your interest rates will go down. You might even get a larger credit limit, but that’s the key.”
Ohio stands out financially, ranking 44th in the nation for credit card debt, even as the cost of goods and energy remains high.
The average household credit card debt in Ohio is under $6,300, which is significantly below the national average of more than $11,000 per family.
Lupo also advises cardholders to regularly review their statements.
“When you have a balance, a huge balance on your credit card bill, you already know it’s high, so you’re not even really looking at what all the charges are,” Lupo said.
“So you may have some hidden recurring fees in there that, if you trim those out, would probably go a long way in reducing your balance.”
The average credit score in Ohio is 699, placing it just below what is considered a good credit score.
To maintain financial stability, Lupo emphasizes the need for at least six straight months of on-time payments.
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