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Tuesday, March 10, 2020
Credit Card Debt: Ewa Beach #1 in USA
By News Release @ 1:25 AM :: 1560 Views :: Hawaii Statistics, Cost of Living

Credit Card Debt Study: Trends & Insights

From Wallet Hub,  Mar 9, 2020

Credit card debt statistics speak to the financial health of American households. They can also foreshadow over-borrowing bubbles, changes to lending standards, and other trends with the potential to impact our wallets.

(Editor's Note: Ewa Beach has the highest credit card debt in the USA at $29,658 per household.  Waipahu is 10th at $25,258.)

Americans began 2019 owing more than $1 trillion in credit card debt. Although the forecast initially appeared brighter, thanks to consumers repaying $38.2 billion in credit card debt during Q1 2019, poor second-quarter results nearly erased that effort. U.S. consumers added $35.5 billion in new credit card debt during the second quarter of 2019 – the largest second-quarter build-up ever. And in the third and fourth quarters, total debt went up by another $21.5 billion and $57.9 billion, respectively. As a result, there was a $76.7 billion net increase in consumer credit card debt for 2019 overall.

WalletHub now projects an $85 billion net increase in credit card debt during 2020….

read … Full Report

Towns Ranked by Amount of Increase or Decrease in Credit Card Debt year/year

Percentile* City Household Credit Card Debt  Household Credit Card Increase/Decrease Total Credit Card Debt Total Credit Card Increase/Decrease by City 
1 Waipahu, HI $25,258 $2,424 $207,239,525 $19,889,271
2 Aiea, HI $20,937 $1,979 $54,854,938 $5,184,940
3 Kapolei, HI $21,864 $1,876 $123,507,295 $10,597,090
3 Kihei, HI $16,772 $1,946 $134,189,855 $15,566,219
5 Waianae, HI $20,687 $1,691 $66,219,290 $5,411,517
6 Pearl City, HI $18,343 $1,564 $256,559,739 $21,876,343
6 Wailuku, HI $15,222 $1,518 $93,569,591 $9,333,486
25 Ewa Beach, HI $29,658 $644 $90,455,960 $1,963,669
34 Mililani Town, HI $18,368 $434 $161,660,779 $3,823,239
38 Kaneohe, HI $18,876 $361 $199,315,916 $3,811,201
48 Honolulu, HI $15,410 $160 $1,985,014,343 $20,567,909
56 Hilo, HI $14,920 $20 $243,230,562 $319,280
62 Kahului, HI $19,554 ($109) $154,747,310 ($858,727)
63 Kailua, HI $19,474 ($126) $91,022,704 ($590,685)
74 Lahaina, HI $18,573 ($365) $66,378,924 ($1,304,613)
87 Wahiawa, HI $14,610 ($816) $81,027,805 ($4,523,878)
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