Jun. 9—Chattanoogans continued to pay off their credit card debt during the first quarter of 2021, building on a record-setting performance in 2020. Th average Chattanooga household paid down their total credit card debt by $694 during the first three months of 2021 when a third round of federal stimulus checks were delivered to most families. Despite the improvement in the financial status of .
Buffalo Residents Have Almost $100 Million in Credit Card Debt
Buffalo residents are carrying almost $100 million in credit card debt. According to a study conducted by WalletHub, Buffalonians have $987,235,715 in outstanding credit card debt. Buffalo is ranked at number 174 out of 182 on the list of cities with the biggest credit card debt paydown, meaning we are doing pretty darn bad.
According to the WalletHub study data that was emailed to me about Buffalo, here are some highlights:
Credit Card Debt in Buffalo:
2021 Change in Household Debt: -$604
Average Household Debt: $8,940
2021 Total Change in Debt: -$66,732,866
Total Outstanding Debt: $987,235,715
Overall, credit card debt in the United States decreased by $56.5 billion during the first quarter of 2021, according to the study. Based on the data, many Americans are taking control of their credit card debt, but not us here in Western New York. Many people had to rely on credit cards during the height of the corona