Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Miami
 [Register]
Miami Miami-Dade County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-22-2024, 05:36 PM
 
Location: Montreal/Miami/Toronto
3,195 posts, read 2,649,705 times
Reputation: 3016

Advertisements

Credit card debt! Miami truly is #1 at everything, 111 months on average (9 years!) to pay off debt


Quote:
Some of the reasons for that huge timeline are the city’s high median credit card debt ($3,106) and relatively low median earnings for workers ($38,823), researchers explain
This Florida city has the worst credit card debt in the country. Here’s why

https://www.clickorlando.com/feature...try-heres-why/

 
Old 01-22-2024, 05:42 PM
 
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,407 posts, read 6,537,276 times
Reputation: 6671
Quote:
Originally Posted by CXT2000 View Post
Credit card debt! Miami truly is #1 at everything, 111 months on average (9 years!) to pay off debt




This Florida city has the worst credit card debt in the country. Here’s why

https://www.clickorlando.com/feature...try-heres-why/



I think I’ll put more faith in findings from Experian than the above Wallet Hub study when it comes to anything credit related.

Miami didn’t even crack the top 5 per Experian, unless we are to believe it leapfrogged all other cities in just the past 3 months since the Experian findings at the end of September .

https://www.pacificdebt.com/top-5-us...%20card%20debt.

Credit Card Debt also seems to be rising the most/fastest out West:

https://www.experian.com/blogs/ask-e...sing-the-most/
 
Old 01-23-2024, 05:56 AM
 
1,947 posts, read 3,320,698 times
Reputation: 1194
Quote:
Originally Posted by elchevere View Post
I think I’ll put more faith in findings from Experian than the above Wallet Hub study when it comes to anything credit related.

Miami didn’t even crack the top 5 per Experian, unless we are to believe it leapfrogged all other cities in just the past 3 months since the Experian findings at the end of September .

https://www.pacificdebt.com/top-5-us...%20card%20debt.

Credit Card Debt also seems to be rising the most/fastest out West:

https://www.experian.com/blogs/ask-e...sing-the-most/
I think one study is comparing absolute dollar amount of CC debt and another is measuring CC debt as a percentage of median income. Wouldn't surprise me as a percentage of income that Miami is at the top. CC defaults in the US are at all time high. People are living on credit to pay for food and housing. Auto payment defaults are also all time high. Country is a mess. Even national debt at a record high. But, hey the economy is great!

I don't have any debt. Learned at a young age to only pay for what I can afford and with cash. I use credit infrequently. Even my new car I bought a year ago with cash.
 
Old 01-23-2024, 06:22 AM
 
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,407 posts, read 6,537,276 times
Reputation: 6671
Quote:
Originally Posted by MiamiLIFE View Post
I think one study is comparing absolute dollar amount of CC debt and another is measuring CC debt as a percentage of median income. Wouldn't surprise me as a percentage of income that Miami is at the top. CC defaults in the US are at all time high. People are living on credit to pay for food and housing. Auto payment defaults are also all time high. Country is a mess. Even national debt at a record high. But, hey the economy is great!

I don't have any debt. Learned at a young age to only pay for what I can afford and with cash. I use credit infrequently. Even my new car I bought a year ago with cash.
I use a credit card, but pay it in full each month. Many people do not or cannot and pay those exorbitant interest fees.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Miami
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top