June 17, 2021
Consumers paying down credit card debt
One ‘silver lining’ in the pandemic is a financial one.

The personal finance website, WalletHub, found that consumers continued to pay off their credit card debt during the first quarter of this year continuing a trend that began in 2020.

Among the California cities with the biggest debt paydown were Rancho Cucamonga, Santa Ana, Chula Vista and Santa Clarita.

WalletHub noted that the nation’s credit card debt problem is far from solved, however.

Nearly $900 billion is owed to credit card companies, and the average household balance remains high, at $7,519. Both figures are also likely to rise as the economy reopens from the coronavirus pandemic.
Story Date: June 8, 2021
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