Austin-Round Rock Ranks High For Credit Card Debt

AUSTIN, TX — The Austin-Round Rock metro area cracked the top half among a list of major metros in terms of credit card debt, according to a new study.

Researchers at SmartAsset analyzed 47 metro areas across various metrics related to credit card debt. The study comes ahead of the holiday season when many consumers will be wracked with additional indebtedness, although credit card debt afflicts consumer year-round.

The study also comes amid Federal Reserve statistics showing Americans owe a record $1.04 trillion in credit card debt — up from less than $854 billion five years ago.

To determine the places where residents rely on credit the most, analysts analyzed 47 metro areas across five metrics related to credit card debt. The Austin-Round Rock metro area cracks the top half of our study.

According to the findings, the Austin-Round Rock metro area ranked 19th among the studied metro areas. Here's how the Austin-Round Rock metro area stacked up in key categories:

• Average credit card debt per borrow: $7,163.
• One-year change in credit debt: 1.89 percent.
• Credit card debt as a percent of income: 9.31 percent.
• Index: 65.50.

The full report on the study, including the methodology and key findings, can be found here:

https://smartasset.com/checking-account/where-residents-most-rely-on-credit-2019.

Image courtesy of SmartAsset.