Wednesday, August 10, 2022
66.2 F
Oxnard
More

    Latest Posts

    Two Visions of America by Don Jans

    ChamberofCommerce.org Publishes Report Detailing Average Credit Card Debt by State

    Sponsored - Job Posting

    We are a small but mighty business in Ventura, CA specializing in Civil/Agricultural Engineering and Land Surveying. Going strong for over 35 years. Looking for motivated team players for immediate hire. Candidates must have at least 3 years of experience in Civil Engineering, Land Surveying, and AutoCAD Civil 3D. Must want to grow with the company. For the right person, management potential. Wages will depend on experience. Benefits include paid holidays, matching retirement plan & much more. Send resumes to: [email protected]

    YCE, Inc. is an Equal Opportunity Employer. Tel: 805-650-6995www.YCEinc.com

    ChamberofCommerce.org has released a report breaking down the average credit card debt that Americans owe by state. Rather than harp on the often-cited national figure of $1 trillion, the report aims to help by focusing on particular states, specific dollar amounts, startling statistics on interest and minimum payments, and revealing correlations regarding the credit card vice that’s currently gripping Americans – some worse than others.

    The following are the three states with the highest credit card debt, followed by the three with the lowest.

    Highest Average Credit Card Debt
    Alaska: $10,685     
    Virginia: $9,120
    Texas: $9,100

    Lowest Average Credit Card Debt
    Iowa: $6,726
    Wisconsin: $6,737
    North Dakota: $7,068

    See every state’s average credit card debt, as well as descriptive graphics and analyses: https://www.chamberofcommerce.org/credit-card-debt-by-state

    The over-use of credit cards has caused seemingly insignificant minimum payments to take thousands of dollars from unwitting (or financially-helpless) Americans in the form of interest. ChamberofCommerce.org found that individuals in several states are spending an extra $10,000 on their credit card purchases by only paying the minimum each month, something the Federal Reserve confirms is the norm for over 40% of debt-carrying Americans.

    ChamberofCommerce.org created this report by compiling and analyzing data from the Federal Reserve (total credit card balances) and the U.S. Census Bureau (median annual household income). Interest payments and other related statistics were calculated separately using the aforementioned data.

    Graphic: https://www.chamberofcommerce.org/

    About ChamberofCommerce.org

    ChamberofCommerce.org is a website dedicated to helping small business owners and entrepreneurs start, market, finance, and grow their businesses. By creating in-depth guides, how-tos, and reviews covering relevant business products, ChamberofCommerce.org hopes to help readers move past the pitfalls that are often to blame for small business failure.


    Get Citizensjournal.us Headlines free  SUBSCRIPTION. Keep us publishing – DONATE

    - Advertisement -
    0 0 votes
    Article Rating
    Subscribe
    Notify of
    guest
    0 Comments
    Inline Feedbacks
    View all comments

    Latest Posts

    advertisement

    Don't Miss

    Subscribe

    To receive the news in your inbox

    0
    Would love your thoughts, please comment.x
    ()
    x