25 Of The Worst U.S Cities For Credit Card Debt (Check Out #21 and #5)

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Americans are in over their heads when it comes to credit card debt.

The average indebted credit card holder carries an outstanding balance of $5,849, according to WalletHub. Collectively, Americans owed $927.1 billion on credit cards as of the third quarter of 2016.

In a recent study, WalletHub examined the relationship between a city’s average credit card balance and its median income, ranking them by how long it would take the average person to pay off the debt given those factors.

 

Below, check out 25 of the worst cities for credit card debt.
25. Provo, Utah
Median income: $12,032

Average credit card balance: $4,084

Debt as a percentage of income: 33.94%

24. Russellville, Arkansas
Median income: $17,054

Average credit card balance: $5,791

Debt as a percentage of income: 33.96%

23. Plattsburgh, New York
Median income: $16,349

Average credit card balance: $5,620

Debt as a percentage of income: 34.38%

22. Valdosta, Georgia
Median income: $17,852

Average credit card balance: $6,147

Debt as a percentage of income: 34.43%

21. Lakewood, New Jersey
Median income: $18,546

Average credit card balance: $6,500

Debt as a percentage of income: 35.05%

20. Kalamazoo, Michigan
Median income: $14,599

Average credit card balance: $5,151

Debt as a percentage of income: 35.28%

19. Beaver Falls, Pennsylvania
Median income: $15,478

Average credit card balance: $5,572

Debt as a percentage of income: 36%

18. San Marcos, Texas
Median income: $13,689

Average credit card balance: $4,977

Debt as a percentage of income: 36.36%

17. Deming, New Mexico
Median income: $13,873

Average credit card balance: $5,062

Debt as a percentage of income: 36.49%

16. Richmond, Kentucky
Median income: $14,431

Average credit card balance: $5,425

Debt as a percentage of income: 37.59%

15. Ames, Iowa
Median income: $12,184

Average credit card balance: $4,582

Debt as a percentage of income: 37.61%

14. Auburn, Alabama
Median income: $12,184

Average credit card balance: $4,582

Debt as a percentage of income: 37.61%

13. Dahlonega, Georgia
Median income: $14,388

Average credit card balance: $5,476

Debt as a percentage of income: 38.06%

12. Cordele, Georgia
Median income: $16,852

Average credit card balance: $6,450

Debt as a percentage of income: 38.27%

11. Warrensburg, Missouri
Median income: $13,415

Average credit card balance: $5,154

Debt as a percentage of income: 38.42%

10. Laramie, Wyoming
Median income: $16,822

Average credit card balance: $6,499

Debt as a percentage of income: 38.63%

9. Carbondale, Illinois
Median income: $11,913

Average credit card balance: $4,629

Debt as a percentage of income: 38.86%

7. (TIE) Hammond, Louisiana
Median income: $14,865

Average credit card balance: $5,819

Debt as a percentage of income: 39.15%

7. (TIE) Marquette, Michigan
Median income: $13,651

Average credit card balance: $5,345

Debt as a percentage of income: 39.15%

6. Milledgeville, Georgia
Median income: $13,055

Average credit card balance: $5,199

Debt as a percentage of income: 39.82%

5. Monsey, New York
Median income: $18,825

Average credit card balance: $7,569

Debt as a percentage of income: 40.21%

4. Lake Placid, Florida
Median income: $13,830

Average credit card balance: $5,594

Debt as a percentage of income: 40.45%

3. Stillwater, Oklahoma
Median income: $14,378

Average credit card balance: $5,870

Debt as a percentage of income: 40.83%

2. Ruston, Louisiana
Median income: $12,893

Average credit card balance: $5,269

Debt as a percentage of income: 40.87%

1. West Chester, Pennsylvania
Median income: $16,716

Average credit card balance: $6,926

Debt as a percentage of income: 41.43%

Read more at Business Insider.

{Matzav}

 

11 COMMENTS

  1. What a bunch of hewey. The average citizen has much more debt that’s being reported. What about Brooklyn? I’m currently unemployed and have $40,000 credit card debt.

  2. it doesn’t mean anything necessarily, i have tens of thousands of dollars in credit card dept, at times it was close to one hundred thousand dollars, i get the debt from the credit cards for 2-5% and use it to earn 10-20% . if people know what they are doing , you can make a lot of money off credit cards, with what is known as healthy debt

    • Please let me know how you make all this money? I have credit card and out of work so I have time. I mean it, help a yid. I await your post.

      • use the credit card cash balance transfer to obtain cash anywhere from 0- 5% for 12-24 months and invest wisely or use it to buy high return selling items on eBay and Amazon.

  3. It means that most frum families are in over their heads and that our lifestyle is unsustainable. Something needs to give because the effects of living as we do are catastrophic.

  4. I’ve never studied statistics, but I’m pretty sure that if you factor in that Monsey and Lakewood are not 100% frum Jews, the debt as a percentage of income is actually higher for that sector than these citywide figures show.

    Let me add that I don’t think “manufactured spending’s” comment is very helpful for most readers, who are losing a lot of money by not paying off their credit card bills. He writes, “[I]f people know what they are doing…” I think it’s pretty safe to say the vast majority of people are definitely not making money off credit cards, and some are lucky if their credit card debt doesn’t ruin them financially.

    • I’m sorry about the people who struggle financially. I live a simple life, but BH have everything I need. See my reply above how I use balance transfer offers to help me earn additional income.

      • Nu, tell us how to get involved with Amazon & Ebay? I’m all ears. I’m also unemployed and because of that I had no choice but to max out my credit cards to pay for everyday expenses for my mishpacha & tuition. Now I’m stuck making minimum payments and %24 percent interest every month.

  5. we need school choice! its killing us! we are paying our own kids tuition + that of our neighbors through taxes!

    • I think what you need is a school that teaches basic economic skills and a viable trade. Like public school, for example.

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