Have you ever wondered how credit card debt in your area compares to other portions of the U.S.? If so, you may be interested in a recent study that used credit data from TransUnion to find the cities with the least and most sustainable credit card debt based on average income and average credit card debts. In other words, how long on average does it take to pay down credit card debt in your city and how much does it cost to do so?
You might find the results surprising. Tied at the 99th percentile (least sustainable) are many smaller towns spread throughout the U.S. Cities with least sustainable debt levels include Stillwater, OK; Carbondale, IL; Auburn, AL; Laramie, WY; Ames, IA; Kalamazoo, MI; Hattiesburg, MS; and Natchitoches, LA. What's the common thread? Most are towns dominated by a local university, perhaps full of students with high credit card debt relative to current income.
On the other end of the scale, the domination is geographic: eight o...
from MoneyTips https://www.moneytips.com/is-your-city-suffering-from-high-credit-card-debt
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