Austin Credit Limits
A report released by CompareCards recently found that Austin saw the biggest credit card balance increase in the U.S., jumping 12 percent from September 2017 to September 2018.
St. Louis and San Jose also saw double-digit growth, and San Diego and Orlando were close behind.
CompareCards used user data from My LendingTree to compare the average credit card balance in the nation’s 50 largest metropolitan areas.
The data showed that credit card balances in those 50 cities grew an average of 3.6 percent from September 2017 to September 2018.
That type of growth was to be expected, given that Federal Reserve data showed that Americans’ revolving credit balances grew 3.7 percent nationwide during the same period, climbing to a record $1.041 trillion.
The biggest average credit balance decrease was in Nashville, one of just four cities to fall more than 1 percent year over year.
Of the top 50 U.S. metropolitan areas, 44 saw some increase, though many were small.
Washington, D.C. had the highest average balances overall, while Indianapolis had the lowest.
For example, people in Austin have an average credit card balance of $6,024, while those in Nashville (#50 on the list) have an average balance of $5,908.
If you’re drowning in high-interest credit card debt, go see your credit union today. Your local CU can help you consolidate that high interest debt into a lower interest loan.
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