With the economy still on shaky ground as a new Covid variant emerges during the holiday shopping season, the personal-finance website WalletHub today released its report on 2022’s Cities with the Most & Least-Sustainable Credit Card Debt in addition to its latest Credit Card Debt Study.
| Most-Sustainable Credit Card Debt | Least-Sustainable Credit Card Debt |
| Fremont, CA | Miami, FL |
| San Francisco, CA | Hialeah, FL |
| Irvine, CA | Knoxville, TN |
| Jersey City, NJ | Gulfport, MS |
| San Jose, CA | Missoula, MT |
| Madison, WI | Dallas, TX |
| Columbia, MD | San Antonio, TX |
| New Haven, CT | El Paso, TX |
| Seattle, WA | Tucson, AZ |
| Philadelphia, PA | Reno, NV |
For the full rankings, please visit: https://wallethub.com/edu/cities-with-the-least-sustainable-credit-card-debt/86237
Credit Card Debt Study Key Stats
- Q3 Increase. U.S. consumers racked up $23.6 billion in credit card debt during Q3 2021.
- Bigger-Than-Usual Increase. The increase in credit card debt during Q3 2021 was 46% bigger than the post-Great Recession average for a third quarter.
- Huge Reversal From Last Year. Credit card debt fell by $82 billion during 2020, and WalletHub now projects an increase of $70 billion in 2021.
- Lower Charge-Off. The 1.67% credit card charge-off rate for Q3 2021 is 34.3% lower than last quarter and 50% lower compared to last year.
- Most and Least Sustainable. The city with the most sustainable debt is Fremont, California while the city with the least sustainable debt is Miami.
- Ease Your Debt. The best balance transfer credit cards currently offer 0% APRs for the first 18-21 months with no annual fee and balance transfer fees as low as 3%.
This article was released by WalletHub.