WASHINGTON – According to a report from the financial website Wallet Hub, in 2020 Manchester had the ninth largest year-over-year spike in household credit card among the 182 cities across the United States.
That year-over-year jump came in at an average $702 extra in average credit card debt for Manchester households, wedged in between Jackson, MS ($720) and Kansas City ($657).
Burlington, VT ($3,020) topped the list while Oxnard, Calif was at the bottom (-$1,270), one of 90 cities on the list that actually saw average household debts reduce last year.
That brings Manchester’s average household credit card debt to $11,719.
Figures in the study were based on analysis of the latest data on consumers’ finances available from TransUnion as well as the Federal Reserve and Bureau of Labor Statistics.
That may have played into a report released by Wallet Hub last week putting Manchester’s median credit score at 687, slightly below the national average.
Among New Hampshire municipalities, Manchester did better than Rochester (682), but worse than Derry (693), Nashua (709), Dover (723), Londonderry (738), Merrimack (742) and Portsmouth (748).