In fact, the average card balance among millennials declined to $4,277 this year — slightly less than the $4,471 average in 2020, according to TransUnion. A similar decline can also be seen among the Gen X and Baby Boomer generation; the average balance among Gen X’ers is now down to $6,359 from $6,919, and the average balance among Baby Boomers declined from $5,777 to $5,317.
Gen Z was actually the only generation to see a slight rise in their average credit card balance in the first half of 2021— the number rose slightly from $1,522 to $1,616.
