Americans have nearly $1.3 trillion in credit card debt, and the personal-finance website WalletHub released its report on the Cities Adding the Most Credit Card Debt, to help illustrate where people are struggling the most. This report comes on the heels of WalletHub’s recent analysis of the Credit Card Debt Study.
- Consumers racked up $108 billion in credit card debt during 2023, which is a 7% reduction compared to the prior year but 168% above the average for the past 13 years.
- Credit card debt rose by $82 billion during Q4 2023, which is 8% less than we added in Q4 2022.
- The average household credit card balance was $10,848 at the end of 2023. That’s $1,577 below the record set in Q4 2007.
- WalletHub projects that credit card debt will increase by another $120+ billion by the end of 2024, putting us very close to a record on an inflation-adjusted basis.
Largest Increase
1. Rancho Cucamonga, CA
2. Ontario, CA
3. Fontana, CA
4. Santa Clarita, CA
5. Santa Ana, CA
6. Chula Vista, CA
7. Oxnard, CA
8. Pearl City, HI
9. Riverside, CA
10. Las Vegas, NV
Smallest Increase
172. Knoxville, TN
173. Columbus, GA
174. Montgomery, AL
175. Las Cruces, NM
176. Rutland, VT
177. Irving, TX
178. Huntington, WV
179. Charleston, WV
180. Bismarck, ND
181. Juneau, AK
Click to view the Cities Adding the Most Credit Card Debt report.
Click to view the Credit Card Debt Study.
