WalletHub released their report on credit card debt, finding Santa Clarita to have the highest increase in debt for the first quarter of 2023.

With household finances already under pressure and the Fed releasing its G19 report today, the personal-finance website WalletHub released its latest Credit Card Debt Study, which found that consumers’ first-quarter paydown was the second-smallest in a decade (just $24 billion). The study also identified the cities with the largest year-over-year increase in credit card debt.

Credit Card Debt in Santa Clarita:

-Q1 2023 Change in Household Debt: $4,779

-Average Household Debt: $19,715

-Q1 2023 Total Change in Debt: $350,258,416

-Total Outstanding Debt: $1,445,024,948

Credit Card Debt Study

-Low Debt Reduction. Consumers started 2023 by paying off $24 billion in credit card debt. That is the second-smallest first-quarter paydown in the past 10 years.

-High Average Household Debt. The average household credit card balance was $9,654 at the beginning of 2023. That’s $2,566 below WalletHub’s projected breaking point for household finances.

-Best Balance Transfer Credit Cards. The best balance transfer credit cards currently offer 0% APRs for the first 12-21 months with no annual fee and low balance transfer fees.

For the full results, visit WalletHub’s Credit Card Debt Study.