Two Massachusetts towns have ranked among the top 10 in CardHub’s report of cities with the most sustainable credit card debt, representing the cities with the shortest payoff timeline and smallest payoff cost.

According to CardHub’s estimates, Americans will have exceeded $900 billion in credit card debt as of year-end 2015, the highest amount recorded since the economic downturn.

Lexington came in at No. 5 in a tie with Los Altos, California. The average credit card debt in Lexington is $6,308, costing approximately $647 in interest and requiring 16 months to pay off. Arlington ranked in at No. 8 in a four-way tie with Fremont and Palo Alto, California, and  McLean, Virginia. Arlington’s average credit card debt is $5,324, costing consumers $646 in interest and taking 19 months to pay off.

CardHub conducted the analysis based on TransUnion data.

Report: Two Massachusetts Towns Among Most Sustainable Credit Card Debt

by Banker & Tradesman time to read: 1 min
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