Pennsylvania Ranked No. 5 State With Lowest Credit Card Debt
PHILADELPHIA (CBS) – Pennsylvania residents apparently do a good job keeping their credit card debt low. Pennsylvania has been ranked the 5th state with the lowest credit card debt, according to a new WalletHub study. The company released the States with the Highest and Lowest Credit Card Debts survey on Tuesday.
Researchers used data collected from TransUnion to collect credit data to determine the cost of debt and time it takes residents to pay off the balances in the 50 states and District of Columbia.
Pennsylvania was ranked No. 1 in shortest expected payoff time.
New Jersey was ranked the No. 16 state with lowest credit card debt, and No. 2 for highest median earnings for full-time workers.
People in @Alaska have the biggest credit card debt burdens. See where your state ranks: https://t.co/OEv3Fin1PA pic.twitter.com/WnLrMWln0H
— WalletHub (@wallethub) July 30, 2019
Delaware was ranked the No. 6 state overall with lowest credit card debt.
Alaska, District of Columbia, and Vermont were among the top 3 with the highest credit card debt.