WalletHub today released its study on the “States with the Highest & Lowest Credit Card Debts” and South Carolina ranked as having the 18th highest.
The website drew upon data from TransUnion, the Federal Reserve, the U.S. Census Bureau and WalletHub's own proprietary credit card payoff calculator to determine the cost and time required to repay the median credit card balance in each of the 50 states and the District of Columbia.
Credit Card Debt in South Carolina (1st Rank = Least Sustainable):
- Median Credit-Card Balance ($2,639)
- Median Income ($40,949)
- Cost of Interest Until Payoff ($233)
- Expected Payoff Timeframe (13 months and 2 days)
You can see the full report here.
