5 Cities Where Gen Xers Have the Most Credit Card Debt

You have a lot of company if you’re a Gen Xer — those who are 44 to 59 years old — and carry a credit card balance. A recent study by LendingTree revealed that Gen X has more credit card debt than any other generation.

If you’re wondering how your credit card debt compares, read on for some of LendingTree’s findings and the five cities where Gen Xers have the most credit card debt.

Also see five myths about debt that nobody should believe in 2024.

LendingTree’s study researched non-mortgage debt — student loans, personal loans, auto loans and credit cards — based on information from 428,000 anonymized LendingTree user credit reports in the 100 largest metros in the U.S. Here’s a snapshot of the study’s credit card data by generation in order from the highest to lowest median credit card debt amounts.

• Gen X: $6,255
• Baby boomers: $4,862
• Millennials: $4,372
• Gen Z: $2,076

The median Gen X credit card debt balance across 100 metros is $6,255. Gen Xers in the five cities below have a considerably higher median credit card debt balance. If you’re wondering which metro area has the lowest median Gen X credit card debt, it’s Dayton, Ohio, with a median balance of $4,357.

• Median Gen X credit card balance: $8,669
• Difference from Gen X median balance: +$2,414
• Percentage of Gen Xers with credit card debt: 96.2%

• Median Gen X credit card balance: $7,922
• Difference from Gen X median balance: +$1,667
• Percentage of Gen Xers with credit card debt: 95.1%

• Median Gen X credit card balance: $7,797
• Difference from Gen X median balance: +$1,542
• Percentage of Gen Xers with credit card debt: 95.4%

• Median Gen X credit card balance: $7,777
• Difference from Gen X median balance: +$1,522
• Percentage of Gen Xers with credit card debt: 92.6%

• Median Gen X credit card balance: $7,714
• Difference from Gen X median balance: +$1,459
• Percentage of Gen Xers with credit card debt: 95.8%

According to New York Life’s latest Wealth Watch survey, debt balances are moving in the right direction. The Wealth Watch survey found that “all generations have succeeded in decreasing their debt since the end of 2023.” However, credit card interest rates remain high. The Fed reported an average credit card interest rate of 22.76% in May 2024.

Consolidating your credit card debt with a personal loan could lead to substantial savings. The average 24-month personal loan APR was only 11.92% in May. HELOC rates are also lower than credit card rates, but LendingTree predicts that HELOC rates could continue to increase even if mortgage rates hold steady or decrease.