Cities with the most and least credit card debt

By Personal FinanceFOXBusiness

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Outstanding credit card debt is now at the second-highest point since the end of 2008 (during the financial crisis), after reaching an all-time record high in the third quarter of 2018.

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According to new data from WalletHub, more than $38 billion in credit card debt was added during the second and third quarters of this year, which has nearly wiped out consumers’ large first-quarter pay-down from earlier this year of $40.8 billion.

What’s more, Americans already began the year owing more than $1 trillion in credit card debt for the first time, after adding $87.3 billion to its tab in 2017. Analysts project this year will add another $70 billion increase to that number by the end of the year. And, with another Federal Reserve rate hike potentially on its way, it could cost credit card users an extra $1.56 billion in interest.

While the debt picture is worrisome nationwide, some areas around the country will be harder hit than others, according to the report. Researchers analyzed data from TransUnion, the Federal Reserve and the U.S. Census Bureau to determine what cities currently have the most and least amount debt.

Here’s the list of the top 10 cities with most and least credit card debt.

Cities with the Least Sustainable Credit Card Debt

•         Colleyville, TX

•         Darien, CT

•         Park City, UT

•         Fairbanks, AK

•         Summit, NJ

•         Leawood, KS

•         The Woodlands, TX

•         Mill Valley, CA

•         Needham, MA

•         Sammamish, WA

Cities with the Most Sustainable Credit Card Debt

•         Carmel, IN

•         Gainesville, TX

•         Lake Forest, IL

•         Bastrop, LA

•         Allen, TX

•         Madison, MS

•         Coral Gables, FL

•         Frankfort, KY

•         Russellville, AR

•         Southaven, MS