Personal Finance
How Much Credit Card Debt Did Oceansider's Pay Off During COVID?
Do Oceanside households Have More Or Less Credit Card Debt than other cities across the U.S? - WalletHub Study
OCEANSIDE, CA — How much did your Oceanside household pay off during 2020? Turns out Oceanside was in the top 30 cities that paid off credit card debt last year.
Oceanside ranked just below both San Diego and Los Angeles for Household credit card debt paydown., but well above Detroit that ranked a lowly # 182.
Average Household Credit Card Debt in Oceanside: $13,987
Find out what's happening in Oceanside-Camp Pendletonfor free with the latest updates from Patch.
Average Household Credit Card Debt Paydown: $945
Total Credit Card Debt: $861,600,147
Find out what's happening in Oceanside-Camp Pendletonfor free with the latest updates from Patch.
Total Credit Card Debt Paydown: $58,240,445
U.S. consumers continued to pay off their credit card debt during the first quarter of 2021, building on a record-setting performance in 2020. While 2020 was a year to forget in most respects, Americans excelled in terms of paying off credit card debt, getting rid of $82.1 billion in debt. This is a major accomplishment, considering that consumers have added an average of $45.6 billion in credit card debt per year over the past 10 years.
The country’s credit card debt problem is far from solved, however. We still collectively owe nearly $900 billion to credit card companies, and the average household balance remains too high, at $7,519. Both figures are also likely to rise as the economy reopens from the coronavirus pandemic.
As a result, WalletHub’s early projection for credit card debt in 2021 is that U.S. consumers will add roughly $60 billion to their total balance. You can learn more about the current credit card debt landscape, including which cities have the most and least sustainable debts, according to the latest data available from TransUnion and the Federal Reserve.
Credit Card Debt Decrease by City:
Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Federal Reserve and TransUnion.
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