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|June 18, 2018|
Cities ranked on credit card debt
INLAND EMPIRE – (INT) - The personal-finance website WalletHub has found that consumers repaid $40.3 billion in credit card debt during Q1 2018, the second-biggest quarterly paydown ever.
But on a darker note, consumers began the year owing more than $1 trillion in credit card debt for the first time ever. WalletHub noted that a Federal Reserve rate hike on Wednesday would cost people with credit card debt an extra $1.6 billion this year alone.
Locally, a comparison of household credit card debt found that consumers in Norco and Chino had the most at just over $21,000 per household. San Bernardino households averaged $10,349, Redlands $15,636, Temecula $18,570, Ontario $11,550 and Palm Springs $11,967.
Coachella was among the nation’s cities with the smallest First quarter credit card paydowns.
Story Date: June 15, 2018