Do you know that even if the economy of the US is down and recession is still ongoing, people never stopped from using their credit cards? This result to mounting debts that drastically increases as time goes by. Do you know that an average earner’s debt is more than what he/she is actually earning? According to a credit report from an agency, in the past years, debt records of people never became this huge but because there are cities and places in the US with more population the debt rate became bigger than expected.

(If you are wondering where the data came from, well they have collected those credit files from individual consumers.)

It was in San Antonio Texas where the highest credit balances where found. The average credit balances amount to $5,100 per person and a single card alone. This data is more than the 21% national coverage. In Jacksonville residents are lavish because they have $5,115 credit card debts in a single card.  Those who live in Atlanta, Dallas, Honolulu in Hawaii and others were not so lavish. They are more economical compared to other cities in the US.

From the 25 cities surveyed, the data showed that those who are currently living in the South are the ones who have higher debts.  People living in Evansville were also inclined in using their credit cards while shopping and buying for things that they sometimes need and sometimes don’t need. They splurged so much within the year that made their debt record boom for about 16% while residents of Lafayette have 14%.

Even the midst of this record, people never stopped from using their cards to make purchases not knowing that they can drastically put themselves in a chaotic situation later on in life. As of 2007, the record showed that the spending of the people went down and made card users to utilize more of their money in a very meaningful and more important way. They were able to save around 10% from their money which is not bad for an average income earner.

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