Texas Is Home To Three Of Five Worst Big Cities For Credit Card Debt
The average North Texan owes $4,902 on credit cards. Of the 25 largest cities in America, Dallas-Fort Worth is second from the bottom. It would take that person 14 months and just under $400 in interest to pay off that debt.
Matt Schulz with Credit Cards.com says the rest of Texas isn’t exactly in high cotton.
“They say everything’s better in Texas, and apparently that includes credit card debt burden,” says Schulz.
San Antonio comes in dead last and Houston’s credit card debt is the fifth worst nationwide. At the top end of the list: San Francisco, Boston and Washington D.C.
Schulz says this survey compared average credit card debt in a city to that city’s median income. That’s where Texas is struggling.
“Folks in the biggest cities in Texas aren’t earning as quite as much as some of the other big cities around the country so it makes it a little more challenging to pay off that credit card debt,” he says.http://keranews.org/post/texas-home-three-five-worst-big-cities-credit-card-debt