Seattle and Dallas have overtaken competitors as the two cities with the greatest average credit card debt per consumer, at around $26,500.
Both Dallas and Seattle exceed the national average consumer credit debt, which is $24,775. This is true for 65 percent of metropolitan areas in the nation.
The report cautions that this should not be taken at face value, and that it is important to remember that debt levels are not always the most important factor in maintaining positive credit scores.
“It’s important to look at the whole picture when evaluating how consumers are actually managing their credit,” said Maxine Sweet, vice president of public education for Experian.
Despite the fact that Seattle consumers have the highest average debt, they also rank very low comparatively in terms of late payments. This means that, in general, they are able to maintain higher credit scores.
If you are facing overwhelming credit card debt and are in need of legal advice in bankruptcy law, contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518.