5 states where more people pay their credit cards in full each month

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States great at paying credit

Fact: A majority of credit card holders pay their bills in full each month.

While U.S. revolving debt, which is primarily made up of credit card balances, is approaching $1 trillion, the number of Americans who never carry a balance has been growing since the end of the Great Recession, according to a new report from the Financial Industry Regulatory Authority’s Investor Education Foundation.

In 2015, 52 percent of cardholders paid off their balance every month, the National Financial Capability Study found after questioning more than 27,000 U.S. adults. That percentage has increased over each of the previous two studies conducted in 2009 and 2012.

“The thing that’s still an issue is that even though more people are paying their cards in full, it’s still true that half are carrying a balance and being charged interest,” says Gerri Walsh, the foundation’s president.

Card holders in some states did better than others. Here are the five states where the most people paid off their cards every month.

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Ohio

Always pay credit cards in full: 58%

  • Made minimum payment only at least once in the past year: 30%
  • Charged a late fee at least once: 10%

Iowa © EQRoy/Shutterstock.com

Iowa

Always pay credit cards in full: 58%

  • Made minimum payment only at least once in the past year: 30%
  • Charged a late fee at least once: 12%

California © David Litman/Shutterstock.com

California

Always pay credit cards in full: 59%

  • Made minimum payment only at least once in the past year: 34%
  • Charged a late fee at least once: 15%

Minnesota © Wildnerdpix/Shutterstock.com

Minnesota

Always pay credit cards in full: 59%

  • Made minimum payment only at least once in the past year: 25%
  • Charged a late fee at least once: 11%

South Dakota © Jess Kraft/Shutterstock.com

South Dakota

Always pay credit cards in full: 61%

  • Made minimum payment only at least once in the past year: 26%
  • Charged a late fee at least once: 10%

RATE SEARCH: Find a great rewards credit card today. Let Bankrate show you how.

Ohio © Michael Shake/Shutterstock.com

Ohio

Always pay credit cards in full: 58%

  • Made minimum payment only at least once in the past year: 30%
  • Charged a late fee at least once: 10%
Iowa © EQRoy/Shutterstock.com

Iowa

Always pay credit cards in full: 58%

  • Made minimum payment only at least once in the past year: 30%
  • Charged a late fee at least once: 12%
California © David Litman/Shutterstock.com

California

Always pay credit cards in full: 59%

  • Made minimum payment only at least once in the past year: 34%
  • Charged a late fee at least once: 15%
Minnesota © Wildnerdpix/Shutterstock.com

Minnesota

Always pay credit cards in full: 59%

  • Made minimum payment only at least once in the past year: 25%
  • Charged a late fee at least once: 11%
South Dakota © Jess Kraft/Shutterstock.com

South Dakota

Always pay credit cards in full: 61%

  • Made minimum payment only at least once in the past year: 26%
  • Charged a late fee at least once: 10%

Find a great rewards credit card today. Let Bankrate show you how.