Akron households did a good job paying off some of their credit card debt last year, bucking a national trend, a new study says.
Nationally, consumers racked up an additional $67 billion in credit card debt, bringing the total owed to $1.034 trillion, the website WalletHub reported Monday in its "Credit Card Debt Study."
Akron consumers, though, paid off $22 million — an average of $261 per household. Akron households carried an average of $9,430 in credit card debt last year, above the national average of $8,788. Overall, Akron consumers owe $796 million.
WalletHub senior researcher Alina Comoreanu wrote in the report that "household finances [are] on a decidedly more negative track heading into 2019. So it’s not a question of whether consumers are weakening financially. It’s a matter of how long our overdependence on credit card debt will last and just how bad it will get."
Athens, Ohio, added one of the highest amounts of debt per household in the nation at $3,231. Bonita, California, added the most debt in the country at $4,453.
These cities' households chipped away at their credit card debt:
• Alliance: Paid down $254 on average; $8,824 average debt.
• Barberton: Paid down $709 on average; $8,390 average debt.
• Canton: Paid down $300 on average; $8,897 average debt.
• Cleveland: Paid down $437 on average; $8,650 average debt.
• Columbus: Paid down $200 on average; $9,981 average debt.
• Dayton: Paid down $296 on average; $10,249 average debt.
• North Canton: Paid down $282 on average; $11,180 average debt.
• Ravenna: Paid down $380 on average; $8,784 average debt.
• Stow: Paid down $885 on average; $11,231 average debt.
• Youngstown: Paid down $241 on average; $9,502 average debt.
Households in these cities increased their credit card debt:
• Cuyahoga Falls: Added $548 on average; $9,943 average debt.
• Cincinnati: Added $121 on average; $9,772 average debt.
• Green: Added $618 on average; $11,764 average debt.
• Hudson: Added $1,578 on average; $18,006 average debt.
• Kent: Added $492 on average; $12,416 average debt.
• Massillon: Added $507 on average; $10,029 average debt.
• Medina: Added $179 on average; $12,935 average debt.
• Toledo: Added $394 on average; $9,152 average debt.
• Wadsworth: Added $983 on average; $11,444 average debt.
• Wooster: Added $565 on average; $10,000 average debt.
To read the full story, go to: https://wallethub.com/edu/credit-card-debt-study/24400/.