25 of the worst US cities for credit card debt

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Is your city caught in a credit card death spiral?
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Wikimedia Commons

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.

Cities where residents have high credit card balances and low median incomes (well below the national median income of $32,261) naturally fare the worst. Residents of these cities would likely struggle to meet the minimum payments on their high card balances, incurring hefty interest payments and potential fees and severely prolonging their repayment period.

Using WalletHub’s data for the 25 worst cities, we determined the debt-to-income ratio for each city and ranked them based on this metric. That is, we ranked them based on the average resident’s credit card debt represented as a percentage of the median income.

Below, check out 25 of the worst cities for credit card debt.

Andy Kiersz contributed to this report.


25. Provo, Utah

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Provo City/Facebook

Median income: $12,032

Average credit card balance: $4,084

Debt as a percentage of income: 33.94%


24. Russellville, Arkansas

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AP/Danny Johnston

Median income: $17,054

Average credit card balance: $5,791

Debt as a percentage of income: 33.96%


23. Plattsburgh, New York

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gmdealer/Flickr

Median income: $16,349

Average credit card balance: $5,620

Debt as a percentage of income: 34.38%


22. Valdosta, Georgia

source
Valdosta, A City Without Limits/Facebook

Median income: $17,852

Average credit card balance: $6,147

Debt as a percentage of income: 34.43%


21. Lakewood, New Jersey

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Bogdan Migulski/Flickr

Median income: $18,546

Average credit card balance: $6,500

Debt as a percentage of income: 35.05%


20. Kalamazoo, Michigan

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SDeming/Shutterstock

Median income: $14,599

Average credit card balance: $5,151

Debt as a percentage of income: 35.28%


19. Beaver Falls, Pennsylvania

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Wikimedia Commons

Median income: $15,478

Average credit card balance: $5,572

Debt as a percentage of income: 36%


18. San Marcos, Texas

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Wikimedia Commons

Median income: $13,689

Average credit card balance: $4,977

Debt as a percentage of income:36.36%


17. Deming, New Mexico

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John Fowler/Flickr

Median income: $13,873

Average credit card balance: $5,062

Debt as a percentage of income: 36.49%


16. Richmond, Kentucky

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Richmond Kentucky Tourism/Facebook

Median income: $14,431

Average credit card balance: $5,425

Debt as a percentage of income: 37.59%


15. Ames, Iowa

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EQRoy/Shutterstock

Median income: $12,184

Average credit card balance: $4,582

Debt as a percentage of income: 37.61%


14. Auburn, Alabama

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Rob Hainer/Shutterstock

Median income: $12,184

Average credit card balance: $4,582

Debt as a percentage of income: 37.61%


13. Dahlonega, Georgia

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Visit Dahlonega, Georgia/Facebook

Median income: $14,388

Average credit card balance: $5,476

Debt as a percentage of income: 38.06%


12. Cordele, Georgia

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AP/Elliott Minor

Median income: $16,852

Average credit card balance: $6,450

Debt as a percentage of income: 38.27%


11. Warrensburg, Missouri

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Wikimedia Commons

Median income: $13,415

Average credit card balance: $5,154

Debt as a percentage of income: 38.42%


10. Laramie, Wyoming

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Rolf_52/Shutterstock

Median income: $16,822

Average credit card balance: $6,499

Debt as a percentage of income: 38.63%


9. Carbondale, Illinois

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Wikimedia Commons

Median income: $11,913

Average credit card balance: $4,629

Debt as a percentage of income: 38.86%


7. (TIE) Hammond, Louisiana

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City of Hammond – Hammond, Louisiana/Facebook

Median income: $14,865

Average credit card balance: $5,819

Debt as a percentage of income: 39.15%


7. (TIE) Marquette, Michigan

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The Cut/Flickr

Median income: $13,651

Average credit card balance: $5,345

Debt as a percentage of income: 39.15%


6. Milledgeville, Georgia

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Milledgeville, Georgia/Facebook

Median income: $13,055

Average credit card balance: $5,199

Debt as a percentage of income: 39.82%


5. Monsey, New York

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Google Maps

Median income: $18,825

Average credit card balance: $7,569

Debt as a percentage of income: 40.21%


4. Lake Placid, Florida

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lucilus/Shutterstock

Median income: $13,830

Average credit card balance: $5,594

Debt as a percentage of income: 40.45%


3. Stillwater, Oklahoma

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Oklahoma State University.
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Ken Wolter/Shutterstock

Median income: $14,378

Average credit card balance: $5,870

Debt as a percentage of income: 40.83%


2. Ruston, Louisiana

source
Wikimedia Commons

Median income: $12,893

Average credit card balance: $5,269

Debt as a percentage of income: 40.87%


1. West Chester, Pennsylvania

source
Wikimedia Commons

Median income: $16,716

Average credit card balance: $6,926

Debt as a percentage of income: 41.43%