This Is the Average 30-Something's Credit Card Balance

How does yours compare?

As a general rule, it's best to keep your credit card debt to a minimum, if not avoid that type of debt altogether. Credit cards are notorious for charging high interest. And the more money you spend on interest, the less you'll have to put toward important goals and other bills.

Plus, having a high credit card balance can actually damage your credit score. And if your score isn't great, you may find it difficult to borrow money -- or borrow affordably -- when you need to.

During your 20s, you may end up with a bit of credit card debt. That's because you may be in a situation where your bills are high and you don't have enough work experience to command a high enough salary to keep up. But by the time your 30s roll around, you should really try to whittle your balance down.

Meanwhile, if you're carrying a credit card balance in your 30s, you may be curious as to how your level of debt compares with that of people your age. And you may be surprised to learn that the average credit card balance for 30-somethings isn't small.

How much do 30-somethings owe on credit cards?

The average credit card balance among 30-somethings is $6,568, reports Personal Capital. Now on a positive note, that's actually less than what 40-, 50-, and 60-somethings owe on average. But still, $6,568 isn't a negligible amount, so if you have a comparable balance, it's important to try to whittle it down as quickly as possible.

Options for paying off credit card debt

The sooner you're able to shed your credit card debt, the better. So whether your balance is comparable to the typical 30-something's, higher, or lower, it's important to come up with a payoff plan.

To that end, you may want to look into a balance transfer, which allows you to move your different balances onto a single credit card that, ideally, will come with a lower interest rate. You may even be able to qualify for a 0% introductory rate on your balance transfer. But if you're going to go this route, pledge to take advantage of that lower interest rate (or 0% rate) by paying down your debt, and do not add to your balance unless you absolutely have no choice.

Another option is to consolidate your credit card balances into a personal loan and then pay that single loan off as soon as you can. The upside there is that personal loans commonly have lower interest rates than credit cards do. They also offer fixed-rate interest, so you won't have to worry about your rate climbing while you're in the process of paying your debt off.

Clear that debt as soon as you can

If you're in your 30s with credit card debt, you're in good company. But you should also try your best to shake that debt as soon as possible. As you get older, you're apt to want to start focusing on other goals, like retirement savings, so the less money you waste on credit card interest, the better.