TEXAS — Findings sourced from WalletHub show that the state of Texas has the second highest amount of credit card debt in the nation. The current amount of collective credit card debt in the state sits at about $111,299,095,554.

The average credit card debt in Texas increased by $3,944,711,993 in 2023. Meanwhile, the average household in Texas owes $9,216 in credit card debt.

California ranks first for highest amount of credit card debt, just ahead of Texas.

Data points to inflation as a reason why many Americans rely on credit cards to get by. A report by Upgraded Points shows that Texas ranks 12th for states where inflation is driving reliance on credit cards.

The report shows that 22% of Texas adults increased their credit card use due to higher prices, and 36.7% relied on credit cards to meet their spending needs.

According to Upgraded Points, essentials like transportation, food and housing have seen the greatest price increases recently due to inflation, so they're difficult to cut back on. Even those earning over six figures report feeling stress over inflation.

The collective credit card debt for the nation sits at about $1.2 trillion.