Americans started 2019 with more than $1 trillion in outstanding credit card balances, and we are on pace to begin 2020 in even worse shape. WalletHub projects a net increase of $80 billion in consumer credit card debt for 2019.
But not everywhere in the U.S. is in such hot water when it comes to credit card debt. Some cities are better at managing their finances and avoiding overspending than others. In order to determine where Americans have accumulated the most and least sustainable credit card debts, WalletHub drew upon TransUnion credit data to calculate the cost and time required to pay off the median card balances of more than 2,500 U.S. cities. Read on for our findings, additional insight from our panel of experts and a full description of our methodology.
