Tennessee - With U.S. credit card debt skyrocketing by $52 billion last year—bringing the national total to a staggering $1.3 trillion—a new report from WalletHub sheds light on how long it’ll take Americans to dig themselves out. Fortunately for Tennesseans, the path to payoff is shorter than average.

WalletHub’s latest study ranks Tennessee 14th among states with the shortest credit card debt payoff timelines. The average Volunteer State resident carries $2,748 in credit card debt. With a median income of $52,606, it's estimated that residents here could payoff their credit card debt in 11 months and 16 days. Over that time, Tennesseans can expect to pay roughly $293 in interest.

In comparison, the report revealed that Alaska holds the highest credit card debt per capita—$3,683—and that would take over 16 months to pay off, costing Alaskans $553 in interest.

Financial expert Gary Simmerman, MBA, MPS, CFP®, from Southern New Hampshire University, warns, “People get in trouble with credit cards by carrying balances, which typically come with high interest rates. Credit cards should be used for convenience, not for making purchases that you haven’t budgeted for and can’t afford.”

WalletHub’s findings also show the two states with the lowest credit card debts.

• Kentucky (#50) residents would take 10 months and 19 days to pay off their credit card debt.
• Mississippi (#51) has the lowest credit card debt, and their payoff time is only 9 months and 30 days.

As Tennesseans navigate their financial journeys, one takeaway rings loud and clear: “Don’t charge more than you can pay for each month.”