While consumers throughout the United States rely heavily on credit cards and accumulate debt as a result, there are some states that do so more heavily than others. According to one recent study, Alaska residents incurred over $7,000 per borrower, significantly higher than the next highest state on the list, Colorado, which averaged $5,700 in debt.
In an interview with Alaska CBS affiliate KTVA-TV, Anchor Point resident June Reynolds said at some people she knew spent unwisely and often put items on their cards that they couldn’t afford.
“[Many people] overspend on their dividend check, they always have, we were here since the first dividend check came out and the bonanza is great but they don’t realize they get into a spending habit and they continue on,” she said in an interview with the station.
Some places have seen average debt levels decline. A merchant services-related report from Equifax showed that cities including Las Vegas, Sacramento, Los Angeles and Detroit all experienced declines in credit card debt. In the United States as a whole, credit card debt was 22 percent lower in August 2012 compared to October 2008.Back To Blog