A newly released ranking shows Decatur residents have a little less post-holiday debt blues than their neighbors.
Decatur is the only Georgia city to make the top 25 in CardHub's 2016 "Cities with the Highest and Lowest Credit Card Debts" ranking. CardHub partnered with the third-largest credit bureau in the country, TransUnion, to calculate the average credit card debt and number of months required to pay off those balances in 2,457 U.S. Cities. CardHub estimates that the cities ranked collectively owed more than $900 billion in credit card debt at the end of 2015
Average credit card debt in Decatur was $5,526 with 22 payoff months, according to CardHub's report. Brookhaven also made the list at No. 1,033, with an average credit-card debt of $7,743 and 41 payoff months. Dacula ranks even lower at No. 2,448 with an average credit-card debt of $7,502 and 84 payoff months.
According to the Federal Reserve Bank of New York, most Americans are mistaken on their actual credit card debt, with U.S. consumers claiming to have a 37 percent lower figure than lenders reported.
Here's a look at the top 25 cities with the lowest credit card debts in the U.S.:
- Cupertino, CA $4,703
- Saratoga, CA $6,794
- Mountain View, CA $4,974
- Sunnyvale, CA $4,638
- Lexington, MA $6,308
- Los Altos, CA $7,848
- Foster City, CA $6,317
- Arlington, MA $5,324
- Fremont, CA $4,997
- McLean, VA $8,739
- Palo Alto, CA $7,004
- Falls Church, VA $5,870
- Hoboken, NJ $6,702
- Redmond, WA $5,881
- Scarsdale, NY $10,369
- Bloomfield Hills, MI $8,336
- Powell, OH $7,604
- Sammamish, WA $7,979
- San Ramon, CA $7,218
- Santa Clara, CA $5,060
- Arlington, VA $6,402
- Decatur, GA $5,526
- Dublin, CA $6,528
- Los Gatos, CA $8,020
- Watertown Town, MA $5,174
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