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Average American credit limit There are more than there are. This is especially true when the population is divided by age. Note that average credit limits tend to be higher for consumers with higher incomes and better credit, but other factors, such as current credit utilization, can also play a role.

According to Experian, the average American has access to $30,233 in credit on all his credit cards in 2021. However, her average credit card balance is $5,221, well below her average credit limit.

The average credit limit decreased by 1.9% ($30,817) compared to 2020 and 3.9% compared to pre-pandemic 2019 ($31,459). ), according to Experian.

“If 2020 was the year of turmoil, 2021 was the year that American consumers came together to deal with the new economic conditions of the next decade,” said Experian. It describes a wide range of changes in card behavior.

By credit score Average Credit Limits and Age Groups in the United States

Recent data from Experian shows that generally, the longer your credit history, the higher your credit score and the higher your credit limit. Experian's data suggests that, in general, the longer you have a credit history, the higher your credit score and the higher your credit limit. Here's how Experian analyzed generational average credit limit data, along with average FICO credit scores for consumers in five age groups.


Generation Average total credit limit per person Average FICO score
Generation Z (18-22) $8,062 667
Millennials (23-38) $20,647 668
Generation X (39-54) $33,357 688
Baby Boomers (55-73) $39,919 731
Silent Generation (74+) $32,338 756

Older generations tend to have higher credit limits and credit scores than younger generations. Why? The explanation can be summed up in two words: life experience.

For one thing, the FICO credit scoring model assigns a value of 15% to the length of your credit history. Therefore, the older you are, the longer your credit history is likely to be. Additionally, the older generation has enjoyed more time building a solid payment history. Payment history, at 35%, is the largest FICO score factor.

Average by State Credit limit

Your location does not directly affect your credit limit, but state-specific factors may affect your credit limit. For example, the cost of living, average salaries, and tax rates can affect the overall financial stability of state residents. This can affect how high or low your average credit limit is in a given state.

Eight of the top 10 states with the highest average credit lines are on the East Coast. Of these eight states, half of the top 10 states with the highest cost of living are ranked.

States with the highest total credit limits

The following chart is based on data from Experian.


state Average Total Credit Limit Average FICO Score
New Jersey $37,845 714
District of Columbia $36,351 703
Connecticut $36,272 717
Massachusetts $34,685 723
Colorado $34,061 718
Virginia $34,011 709
New Hampshire $33,666 724
Maryland $33,645 704
New York $33,381 712
Hawaii $33,254 723

States with Lowest Total Credit Limits

According to a recent study, unlike the 10 states with the highest total credit limits, the 10 states with the lowest credit limits tend to be among the lowest cost of living states. Seven of the bottom 10 states are in the South, according to the Encyclopedia Britannica definition of the region. New Jersey is $37,845, while Mississippi, the lowest, averages $21,676. That's a difference of over $16,000.

State Average Total Credit Limit Average FICO Score
Mississippi $21,676 667
Arkansas $24,570 683
West Virginia $24,684 687
Alabama $25,621 680
Louisiana $25,781 677
Kentucky $25,962 692
Oklahoma $26,041 682
Indiana $26,676 699
Idaho $26,871 711
Iowa $27,052 720

How does the issuer determine my credit limit?

When you apply for a credit card, the card issuer (Chase, Discover, Capital One, etc.) Determine if you have enough credit to get, and if so, determine how much you can borrow. This amount is called a credit limit, and each card issuer looks at the same basic elements to assign this number.

Payment History

One of the most important factors credit card issuers look at when determining your credit limit is your previous payment history. This factor accounts for the highest percentage of his FICO score, and credit card issuers are more likely to grant access to credit if his payment history is okay.

Credit Utilization

The credit utilization ratio is a number that represents the amount of money you owe against your credit limit. Your credit card issuer will look at your total utilization and utilization of all revolving credit lines.

In general, experts recommend keeping your credit utilization below 30% for best results. This means that for every $10,000 of her available credit she has a balance of $3,000 or less. To quickly determine this percentage yourself, check out Bankrate's Credit Utilization Calculator.

Length of credit history

Credit card issuers also consider the average length of your credit history. A long credit history and a high number of examples of responsible credit usage are seen as very positive from a lender's point of view.

Personal income and monthly expenses

Credit card issuers also look at how much money you make. This makes sense because we use your income to repay purchases that you have charged to your credit card. Monthly expenses are also taken into account, as monthly bills represent a percentage of your income.

Recent Difficult Inquiries

Finally, credit card issuers look at recent difficult inquiries. We will decide whether and how much to give you credit based on your credit report. Lenders may view your recent tough inquiry as an indication that you are a risky borrower, and may be denied or offered a lower credit limit as a result. there is.

Low credit limit Is it a bad thing?

Low credit isn't necessarily a bad thing, but if you have at least one card with low credit, there are a few things you should be aware of. .

First, low credit limits can easily indicate high levels of credit utilization. After all, if you charge $500 to a credit card with a $1,000 limit, you'll have a 50% usage rate on that card, even if you owe a relatively small amount.

Also Lower Credit Limits

By the way, some credit cards allow consumers with low credit scores or no credit to build or rebuild credit. .

What should I do? or increase your credit limit?

If you want to increase your credit limit, you may be able to do so by simply calling your credit card issuer using the number on the back of your card and requesting a limit increase. . Depending on your card issuer, you may be able to request a credit limit increase through your online account management page by logging into your online account.

When you request a credit limit increase, your card issuer may conduct a rigorous review of your credit report to determine your eligibility. That's not the end of the story, but it's worth considering whether to wait to see if your credit card issuer will automatically increase your credit limit over time.


    • What is my credit limit?

      Your credit limit is the maximum amount that can be charged to your credit card. So if your card has a credit limit of $4,000, your card issuer will allow you to carry a maximum balance of $4,000. Transactions included in your credit card balance include purchases, balance transfers, cash advances, interest and fees.

      • What is your credit limit?

        In general, You need to keep your effective credit limits low enough. The account you have — so you don't overspend or charge interest when you carry your balance over from one month to the next. Ultimately, however, individual card limits are up to the credit card issuer.

      • What happens if I exceed my credit limit?

        In most cases, your credit card issuer will accept a transaction if: refuse. You may exceed the credit limit of your account. In the past, some credit card issuers allowed over-the-limit transactions, but you ended up paying over-the-limit charges. However, most card issuers have stopped this practice.