Credit card debt. It seems to be an inevitable part of life for many Americans. And, recent data suggests that it really is. According to the Federal Reserve, American credit card debt hit a record high in 2017, rising to more than $1 trillion. Many people carrying high balances on their credit cards will notice their credit score suffering as a result. That’s because credit utilization ratio makes up a large portion of a credit score.
So, where in the U.S. is the bulk of that credit card debt located? Let’s take a look at the most recent data on 25 cities where the highest credit card debt is held by residents as well as the median income in those areas.