Report: Warwick most sustainable credit card debt, Providence least

WALLETHUB SAID it used TransUnion credit data to calculate balances in 2,537 U.S. cities as well as the associated costs of paying them for its latest report. Based on that data, Cupertino, Calif., has the most sustainable credit card burden, while West Chester, Pa., has the least. / COURTESY WALLETHUB
WALLETHUB SAID it used TransUnion credit data to calculate balances in 2,537 U.S. cities as well as the associated costs of paying them for its latest report. Based on that data, Cupertino, Calif., has the most sustainable credit card burden, while West Chester, Pa., has the least. / COURTESY WALLETHUB

PROVIDENCE – Warwick has the most sustainable credit card debt in Rhode Island, while Providence has the least, according to WalletHub’s latest survey about cities with lowest and highest credit card debts.

The financial services website said it used TransUnion credit data to calculate balances in 2,537 U.S. cities as well as the associated costs of paying them.

It said financial resolutions are often among the most popular made for the new year. It also said Americans are expected to have racked up an additional $80 billion of credit card debt in 2016, “putting outstanding balances dangerously close to record levels seen during the Great Recession.”

Warwick ranked in the 20th percentile for average credit card debt of $6,213, and a 35-month payoff timeline, with a $1,399 cost to pay off the debt. Providence, in comparison, ranked in the 71st percentile, with $4,605 in debt, a 52-month payoff timeline, and $1,573 in extra costs to pay it off.

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Other local cities ranked as follows:

  • Taunton, 12th percentile, $5,115 in average credit card debt, 33 months to pay off, $1,084 extra cost to pay the debt
  • Pawtucket, 23rd percentile, $4,428, 36 months, $1,026
  • Woonsocket, 24th percentile, $5,097, 37 months, $1,215
  • New Bedford, 27th percentile, $4,385, 37 months, $1,046
  • Fall River, 33rd percentile, $4,818, 39 months, $1,214
  • Cranston, 34th percentile, $5,999, 39 months, $1,511

West Chester, Pa., was in the 99th percentile, and last on the list, for average credit card debt of $6,926, and 192 months to pay it off, as well as a $10,535 cost to pay it off.

Cupertino, Calif., was in the first percentile for credit card debt of $5,056, 10 months to pay it off and only $333 in extra costs.

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