The 10 states with the highest average credit card debt—and they aren’t New York or California
Americans with credit card debt face a double whammy.
First, there’s inflation. Prices on a broad basket of consumer goods are up 8.3% from this time last year, a figure that includes even larger hikes in the cost of food, shelter, gasoline and medical care.
At the same time, credit card rates are on the rise. In an effort to tame inflation, the Federal Reserve has embarked on a series of hikes to short-term interest rates, which has in turn pushed up the rates on credit cards. Run a balance...