Rhode Island · New England
Debt consolidation in Rhode Island
Adults in Rhode Island with a credit file carry $4,490 in credit card debt on average, 3% above the national $4,350. 11.38% of those balances are 90 or more days past due.
- $4,490
- card debt per adult, 20th of 51
- 11.38%
- of card balances 90+ days late (US 12.36%)
- +26.8%
- card debt growth since 2019 (US +28.3%)
What Rhode Island households owe
Card balances per adult are up 26.8% since 2019, slower than the national +28.3% (24th fastest of 51). Balances fell from $3,540 in 2019 to $3,040 in 2020, when spending dropped and stimulus paid down cards, then climbed back to $4,490 by 2025.
Card debt is the most expensive balance most households carry, which is why it is usually the first target for consolidation. In Rhode Island, cards, auto loans and student loans add up to $14,500 per adult, 6% below the national $15,470.
| Type | RI | US | RI change vs 2024 |
|---|---|---|---|
| Credit cards | $4,490 | $4,350 | +4.4% |
| Auto loans | $4,380 | $5,660 | -9.1% |
| Student loans | $5,630 | $5,460 | +1.8% |
| Mortgages | $41,690 | $44,300 | -2.4% |
| All household debt | $60,090 | $63,200 | -2.0% |
Personal loan rules in Rhode Island
Rhode Island licensed small loan lenders can lend up to $5,000 at rates that fall as the loan gets bigger, from 36% a year on loans of $300 or less down to 24% on loans over $800.
- Licensed small loans (under $5,000, not secured by real estate): 3% per month (36% per year) on loans of $300 or less; 2.5% per month (30%) on loans over $300 to $800; 2% per month (24%) on loans over $800 to $5,000 (R.I. Gen. Laws § 19-14.2-8)
The National Consumer Law Center puts the highest APR allowed in Rhode Island at 30% on a $500, six-month loan and 24% on a $2,000, two-year loan (State Annual Percentage Rate (APR) Caps For $500, $2,000 and $10,000 Installment Loans (NCLC fact sheet, December 2025; figures current as of September 2025)).
Non-bank lenders need a state license to make these loans. License: Small Loan Lender license (or Lender license) (R.I. Gen. Laws § 19-14-2).
Compare rate caps in every state. Checked 2026-09-30. Summary for general information, not legal advice. Laws change, and banks chartered in other states may follow different rules. Sources: R.I. Gen. Laws § 19-14.2-8; R.I. Gen. Laws § 19-14-2; Economic Progress Institute, Testimony in support of S2275 (March 2024); Steve Ahlquist, Good bye, payday lending (July 2025); NCLC, State APR Caps for $500, $2,000 and $10,000 Installment Loans, December 2025.
How many Rhode Island borrowers are behind
11.38% of credit card balances in Rhode Island were seriously delinquent (90+ days) at the end of 2025. That is 1.0 points below the national rate of 12.36%, placing Rhode Island 25th of 51 for card delinquency (1st is the highest). The rate rose 1.0 points in the past year, from 10.42% in 2024. In 2019 the share was 8.12%.
Auto loan delinquency in Rhode Island stood at 3.54% (US 5.18%), and student loan delinquency at 7.15% (US 8.25%). If your payments are current, you are in a better position to qualify for a lower rate. If not, read our guide to consolidation loans with bad credit .
Rhode Island next to its neighbors
Among the 6 New England states, Rhode Island has the 4th highest card debt per adult.
- Connecticut: $4,960 per adult, 10.53% 90+ days late
- Massachusetts: $4,650 per adult, 10.33% 90+ days late
- New Hampshire: $4,500 per adult, 9.84% 90+ days late
- Rhode Island: $4,490 per adult, 11.38% 90+ days late
- Vermont: $3,790 per adult, 8.99% 90+ days late
- Maine: $3,760 per adult, 9.83% 90+ days late
Ten years of card debt in Rhode Island
Card debt per adult in Rhode Island has changed +49.2% since 2015 and +4.4% in the last year alone (US +4.1%).
| Year | RI | US |
|---|---|---|
| 2015 | $3,010 | $2,800 |
| 2019 | $3,540 | $3,390 |
| 2020 | $3,040 | $2,970 |
| 2024 | $4,300 | $4,180 |
| 2025 | $4,490 | $4,350 |
What consolidating could save at RI numbers
Take the Rhode Island average of $4,490 and pay it off in 36 months. At a 24% card APR the payment is about $176 a month and the interest about $1,852. With a 12% consolidation loan the payment drops to about $149 and the interest to about $879, a difference of $973.
People who carry a balance usually owe more than the per-adult average. On $11,000 the same comparison is $4,536 of card interest against $2,153 on the loan. These rates are examples, not offers. Your APR depends on your credit, income and the lender, and an origination fee reduces the savings. See what lenders look for.
Your options in Rhode Island
- Debt consolidation loan: one fixed payment and end date, worth it when the APR is clearly below your card rates. How to compare offers.
- Debt management plan: a nonprofit credit counseling agency negotiates lower rates with your card issuers. Useful if you cannot qualify for a loan. DMP vs consolidation.
- Balance transfer card: a 0% introductory APR can beat a loan if you can clear the balance before the promo ends. Balance transfer vs personal loan.
Checking a lender in Rhode Island
Non-bank consumer lenders in Rhode Island are licensed by the Rhode Island Department of Business Regulation, Division of Banking (DBR). Before you accept an offer, look up the lender's license. To report a problem, contact the Rhode Island Attorney General, Consumer Protection Unit or file with the CFPB. Never pay upfront fees for debt relief.
Rhode Island debt consolidation FAQ
How much credit card debt does the average person in Rhode Island have?
$4,490 per adult with a credit file at the end of 2025, according to New York Fed Consumer Credit Panel/Equifax data. That is 3% above the US figure of $4,350 and ranks 20th of 51. The figure includes people with no card balance, so people who do carry a balance typically owe more.
Are more people in Rhode Island falling behind on credit cards?
11.38% of card balances in Rhode Island were 90 or more days past due in 2025, compared with 8.12% in 2019 (up 3.3 points). The national rate was 12.36%.
Can a consolidation loan lower what borrowers in Rhode Island pay in interest?
It can if the loan APR is well below your card APRs. On a $4,490 balance paid off over 36 months, a 24% card APR costs about $1,852 in interest and a 12% loan about $879. Rates depend on your credit and the lender, loans are not available in every state, and fees can shrink the savings.
Does debt consolidation hurt your credit in Rhode Island?
Checking offers uses a soft inquiry and does not affect your score. Accepting a loan adds a hard inquiry and a new account, which can dip your score briefly, while paying down card balances usually helps over time.
Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax, State Level Household Debt Statistics 2003-2025 (February 2026), Q4 figures per adult with a credit file. Ranks and changes computed by Smart Debt Relief across 50 states and DC. Not affiliated with or endorsed by the Federal Reserve Bank of New York. Full state table and CSV.