Credit Card Balances Are Growing Almost Everywhere — Especially in These 23 Cities
Written by
T. Woods
Edited by
Zuri Anderson
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Credit card usage is steadily on the rise across America, with Experian recently noting that the average American’s credit card balance has reached approximately $6,700 in the second quarter of 2024.
While $6,700 is certainly nothing to sneeze at, Experian also noted there are at least 23 American cities in which the average credit card balance is literally double — that is, at least $1,340 — or more than the national average.
Here’s the Experian breakdown of the 23 cities with at least double the national average of credit card usage, as well as their average credit card balances:
| Palm Beach, FL | $23,682 |
| Rumson, NJ | $18,809 |
| Pacific Palisades, CA | $17,755 |
| New Canaan, CT | $16,856 |
| Newport Coast, CA | $16,673 |
| Pinecrest, FL | $15,932 |
| Old Greenwich, CT | $15,880 |
| Armonk, NY | $15,768 |
| Rancho Santa Fe, CA | $15,638 |
| Paradise Valley, AZ | $15,352 |
| Chappaqua, NY | $15,068 |
| Villanova, PA | $14,894 |
| Surfside, FL | $14,154 |
| Short Hills, NJ | $14,121 |
| Glen Head, NY | $14,102 |
| Franklin Lakes, NJ | $14,047 |
| Old Tappan, NJ | $14,018 |
| Corona del Mar, CA | $14,000 |
| Colts Neck, NJ | $13,942 |
| Coto de Caza, CA | $13,856 |
As Experian noted, more than half of the cities listed (specifically, 13 of them) are wealthy enclaves in the pricey states of California, New York and New Jersey. That said, the biggest spenders are clearly in Palm Beach, Florida, where the average credit card balance is a whopping $23,682 — that’s 3.5 times higher than the national average of $6,700.
It’s a number that makes a bit of sense: in 2016, Bloomberg News reported that Palm Beach was the 27th wealthiest city in America. In 2017, Forbes reported that over 30 of the world’s billionaires lived in the Florida city.
While some may be able to maintain well over $20,000 in credit card debt, Experian doesn’t recommend it, as such a balance comes with thousands of dollars in yearly interest payments alone.
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