"With the U.S. economy thought be some to be in recession, a new study is illustrating where Americans have accumulated the most and least sustainable credit-card debts.
WalletHub used credit card data from TransUnion to figure out the cost and time required to pay off the median card balances of more than 180 U.S. cities.
It turns out San Antonio falls in 10th place when it comes to cities with the least sustainable credit card debt.
The Alamo City has a median credit card debt of $2,809 and the average payoff time of credit card debt in San Antonio is 71 months and 3 days – or just under 6 years. These calculations only include data from San Antonio and they exclude areas like Helotes, Converse and Boerne.
You can use the WalletHub credit card payoff calculator to figure out how long it will take you to pay off your credit card debt by clicking here.
According to WalletHub, the average U.S. household has over $8,900 in credit card debt, up 4.5% from the previous year.
Americans started 2022 with more than $1 trillion in outstanding credit card balances."
Related posts:
San Antonio, Poverty and Economic Segregation (2019)
San Antonio has highest credit card debt burden in US (2018)
Even as wealthy people flock to San Antonio, more of the city remains in poverty (2022)
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