RALEIGH, N.C. (WNCN) — Americans are tallied $67 billion in credit card debt in the during the second quarter of the year, according to a Credit Card Debt Study from WalletHub.

WalletHub is now projecting consumers will add another $110 billion in debt by the end of the year. Inflation will make that debt more expensive as the Federal Reserve is expected to raise its target rate by 75 basis points on September 21, said WalletHub. They anticipate this will cost people with credit card debt an extra $5.3 billion over the next 12 months.

“Credit card debt levels are rising at a record pace in large part due to the combination of high inflation, pent up demand, and consumers settling back into bad habits from before the pandemic,” said Delaney Simchuck, WalletHub analyst. 

Of the top 10 states with credit card debt, North Carolina slid in at the number nine spot. In total, North Carolinians owe $33.8 billion in credit card debt. The debt study estimates North Carolina households average $7,752 in credit card debt.

“The average household credit card balance was $8,942 in the second quarter of 2022, according to a new WalletHub study, or about 4% higher than it was in the second quarter of 2021,” said Simchuck. “Credit card debt is still well below the average household’s breaking point, but we can expect to be a lot closer by the end of the year.”

Top 10 states with largest debt increases:

RankStateHousehold Credit Card DebtTotal Credit Card Debt
1California$8,505$120.8 billion
2Texas$8,681$93.2 billion
3Florida$8,510$73.1 billion
4New York$8,214$66 billion
5Illinois$7,874$41.6 billion
6Pennsylvania$7,690$42.5 billion
7Georgia$8,699$36.1 billion
8Ohio$7,192$36.7 billion
9North Carolina$7,752$33.8 billion
10Virginia$9,176$31.6 billion

States with the least credit card debt included Wyoming, Vermont, North Dakota, South Dakota and Alaska.