local
Texans carry nearly $7,000 in average credit card debt. Could a HELOC help?
By Bill Spencer, Ninfa Saavedra at KPRC 2 / Click2Houston (NBC)
· July 9, 2026
· 2 min read
Texans are carrying an average of nearly $7,000 in credit card debt, making the Lone Star State the seventh-worst in the nation for average credit card balances.As many families struggle with high-interest debt, financial experts say one tool that often goes unused is a home equity line of credit...
Key takeaway According to mortgage expert Charles Villafana, about 98% of Texans who own their homes mortgage-free have never opened a HELOC or second mortgage.
Why this matters in The Pearland
For Pearland homeowners struggling with credit card debt, a home equity line of credit, or HELOC, may be a viable option to consider. Given the significant equity many local homeowners have built in recent years, tapping into it could provide a lower-interest alternative to credit card debt. With the average credit card interest rate often exceeding 20%, consolidating debt through a HELOC, which currently has an average interest rate of 7.4%, could lead to substantial savings on monthly interest costs. However, Pearland residents must carefully weigh the risks, including the potential for foreclosure if payments cannot be made. As such, it is crucial for homeowners to seek the advice of a trusted financial advisor to determine if a HELOC is a suitable solution for their individual financial situation, and to ensure it aligns with their broader financial goals and plans.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Pearland surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KPRC 2 / Click2Houston (NBC) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 9, 2026 ·
Source: KPRC 2 / Click2Houston (NBC) ·
Reading time: 2 min
Get more The Pearland stories like this
Free weekly briefing covering local and other local news. Curated by our editorial team. No spam.
By subscribing you agree to our privacy policy . Unsubscribe anytime.
Frequently asked about this story
What is this story about? Texans are carrying an average of nearly $7,000 in credit card debt, making the Lone Star State the seventh-worst in the nation for average credit card balances.As many families struggle with high-interest debt, financial experts say one tool that often goes unused is a home equity line of credit...
When was this published? This article was first published on July 9, 2026 by KPRC 2 / Click2Houston (NBC) and curated for The Pearland readers.
Who reported this story? This story was reported by Bill Spencer, Ninfa Saavedra at KPRC 2 / Click2Houston (NBC). To learn more about how The Pearland selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Pearland, or browse our daily briefing and topic hubs .
← Back to all news
More local →
Today’s briefing
Subscribe to newsletter