New Experian data has shown that despite the economic ups and downs of 2018, the use of credit has remained strong.

In fact:

·         Overall consumer debt hit $13.3 trillion in the last quarter of 2018.

·         Credit card debt totaled $834 billion, an all-time high.

·         Auto loan balances reached $1.27 trillion, a record total.

·         New Jersey had the 2nd highest average credit card balance of all states in 2018 at $7,511.

·         At $15,838, New Jersey ranked 5^th for lowest average auto loan.

·         Only District of Columbia and New Jersey saw their auto loan balances decrease in Q4 of 2018.

·         New Jersey is one of only 6 states that say a year-over-year decrease in average total debt.

You can read our entire study here:

https://www.experian.com/blogs/ask-experian/research/consumer-debt-study/