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Tuesday, January 5, 2021 |
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Which Hawaii Towns Have Worst Credit Card Debt?
By Selected News Articles @ 11:00 AM :: 3485 Views :: Hawaii Statistics, Cost of Living
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2021's Cities with the Least Sustainable Credit Card Debt
From Wallet Hub, Jan 4, 2021
Americans started 2020 with more than $1 trillion in outstanding credit card balances, but the good news is that we are on pace to begin 2021 in slightly better shape. The first two quarters of 2020 saw the highest credit-card debt paydown in decades, due in large part to the stimulus in response to the COVID-19 pandemic. WalletHub projects we’ll end the year with a small overall reduction in credit-card debt, but there will still be a mountain of debt left in 2021.
Some people are in a better position than others when it comes to credit-card debt. In order to determine where Americans have accumulated the most and least sustainable credit-card debts, WalletHub drew upon TransUnion credit data to calculate the cost and time required to pay off the median card balances of more than 2,500 U.S. cities.
read … Full Report
| percentile |
city |
median credit card debt |
cost to pay off |
payoff time (income adjusted) |
| 99 |
Ewa Beach, HI |
$3,281 |
$2,145 |
86 months and 4 days |
| 98 |
Lahaina, HI |
$3,272 |
$1,883 |
76 months and 29 days |
| 98 |
Waipahu, HI |
$2,864 |
$1,630 |
76 months and 5 days |
| 97 |
Kihei, HI |
$3,332 |
$1,736 |
70 months and 12 days |
| 97 |
Kapolei, HI |
$3,881 |
$2,018 |
70 months and 7 days |
| 96 |
Waianae, HI |
$2,879 |
$1,466 |
68 months and 29 days |
| 90 |
Wahiawa, HI |
$2,851 |
$1,225 |
59 months and 2 days |
| 90 |
Kahului, HI |
$2,586 |
$1,099 |
58 months and 15 days |
| 85 |
Hilo, HI |
$2,895 |
$1,165 |
55 months and 19 days |
| 68 |
Mililani Town, HI |
$3,160 |
$1,093 |
48 months and 10 days |
| 67 |
Kailua, HI |
$3,677 |
$1,260 |
47 months and 28 days |
| 67 |
Wailuku, HI |
$2,888 |
$0,988 |
47 months and 26 days |
| 65 |
Kaneohe, HI |
$3,109 |
$1,050 |
47 months and 8 days |
| 54 |
Honolulu, HI |
$2,594 |
$818 |
44 months and 9 days |
| 38 |
Pearl City, HI |
$2,613 |
$736 |
39 months and 26 days |
| 35 |
Aiea, HI |
$2,537 |
$698 |
38 months and 30 days |
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