NEW MEXICO (KRQE) – Credit card debt in the U.S. increased by 85.8 billion in Q4 of 2022. This is the highest quarterly increase ever recorded. WalletHub just released a new study showing how much different cities’ credit card debt increased.
The study looked at 182 cities and two New Mexico spots made the list. Albuquerque ranked 51st overall with a household debt increase of $1,242. Las Cruces also was featured, coming in at #125 with a household debt increase of $1,788.
Lewiston, ME was ranked first with only $312 in household debt increases for a median credit card debt of $8,200. Conversely, Santa Clarita, CA came in all the way at the bottom at #182 with a debt increase of $4,053.
WalletHub based its findings on analysis of the latest data on consumers’ finances from TransUnion, the Federal Reserve, and the Bureau of Labor Statistics.