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Cities in the south rank high in credit card debts

2011-03-17

Though the recession has not completely ebbed away, consumers are becoming increasingly liberal in the usage of credit cards. Americans continue to amass dues on their cards by using them for all purchases, necessary and unnecessary. One of the reports from Experian revealed that by the end of 2010, the credit card debt for an average card holder stood at $4,200. While this figure was 4% lesser as compared to the average outstanding amount in the year 2009, the credit card dues for card holders in most cities of the country was way above the national average.

The average balance on the credit cards for most San Antonio residents in Texas stood at $5,177, which was 21% more than the national average. The second place on this list went to Jacksonville, Florida where the average outstanding balance stood at $5,115.

While Atlanta occupied the third spot, the fourth and fifth spot went to Honolulu and Fort Worth. The outstanding dues on credit cards increased by 16% and 14.5% for card holders in Evansville, Indiana and Lafayette, Louisiana respectively.

On the positive side, not all states reported an increase in credit card debts. Card holders in a few cities exerted caution and used their credit cards wisely to reduce their dues. The list of cities that were the most successful in reducing credit card debts was led by Fort Wayne, Indiana that showed an average drop of 24%. Card holders in Boise, Idaho and El Paso, Texas also showed a drop of 14% in credit card dues.