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States With the Most Credit Card Debt
Posted on 3/12/19 at 9:48 pm
Posted on 3/12/19 at 9:48 pm
quote:
According to the Federal Reserve, Americans owe a record $1.04 trillion in credit card debt -- up from less than $854 billion five years ago. According to Ted Rossman, an industry analyst at research group creditcards.com, about 40% of Americans have enough income to pay off their balance -- and do so in full every month. For them, a high credit card balance is not a problem.
quote:
For the remaining 60%, however, maintaining a high credit card balance can mean hundreds of dollars in interest payments a year and possibly a low credit score.
quote:
On average, Americans owe $6,354 on bank-issued credit cards. At the state level, average credit card debt per capita varies substantially. 24/7 Wall St. reviewed the average bank card balance from creditcards.com to identify the states with the most credit card debt.
full story
# 1 surprised me. alaska.
# 7 texas
# 9 georgia
# 17 florida
# 28 louisiana
Avg. credit card balance: $6,074
Avg. credit score: 650
Cost of living: 9.6% less than avg.
Avg. number of cards: 2.8
# 30 tennessee
# 31 alabama
6
Posted on 3/12/19 at 9:49 pm to Lincoln Dawson
0 here. I never put more than I can pay when the bill comes.
Posted on 3/12/19 at 9:49 pm to Lincoln Dawson
quote:
Avg. credit card balance: $6,074
Damn that's crazy...
I guess people max out then move on to another card tanking their already crappy credit score .
Posted on 3/12/19 at 10:00 pm to Lincoln Dawson
quote:
# 1 surprised me. alaska.
Per capita there is a ton of young military folks there
Posted on 3/12/19 at 10:03 pm to Lincoln Dawson
quote:
On average, Americans owe $6,354 on bank-issued credit cards.
That is horrifying
Posted on 3/12/19 at 10:05 pm to Lawyered
quote:
Avg. credit card balance: $6,074
Damn that's crazy...
I guess people max out then move on to another card tanking their already crappy credit score .
Na, I'm carrying 6k on a 0% card at the moment. Bought a bike and it's a 0% loan.
Paying a 3-600 a month on it.
Why not?
ETA: I'm using a very small percentage of my available revolving.
This post was edited on 3/12/19 at 10:06 pm
Posted on 3/12/19 at 10:10 pm to X123F45
quote:
I'm carrying 6k on a 0% card at the moment. Bought a bike and it's a 0% loan.
Well yeah... that's what my car loan is at.. 0 %... that's a no brainer..
but i'm thinking of the folks making minimum payments owing $ 10,000 on a card with a high percentage rate for rolling the balance over and will never get out of the hole
This post was edited on 3/12/19 at 10:12 pm
Posted on 3/12/19 at 10:12 pm to Lawyered
Meh. I probably put 1800 a month on my costco card in bills. Sometimes the statement hits before I pay it.
That could be skewing the numbers a little.
But yeah... Most people suck at managing money
That could be skewing the numbers a little.
But yeah... Most people suck at managing money
Posted on 3/12/19 at 10:12 pm to Lincoln Dawson
I'm honestly surprised the average credit score is 650
Posted on 3/12/19 at 10:13 pm to MrSmith
People use their Alaska Air card to pay everything, to accumulate mileage.
Posted on 3/12/19 at 11:17 pm to Lincoln Dawson
My monthly bill lately has been 12-14k but I pay it off. Not sure where that puts me.
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