Alaska leads with highest credit card debt

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Mogul of Pineapples
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Alaska leads with highest credit card debt

Postby Mogul of Pineapples » Wed Aug 27, 2008 2:15 am

This recent study by the Americans for Fairness in Lending says Alaskans have the highest median credit card debt of any state - $3,384 for each person.

New Hampshire came in a distant second with a thousand less at $2,109 in credit card debt. Connecticut at $2,094, and the rest of the top ten were (in order) Maryland, Colorado, Nevada, Virginia, Delaware, Washington and Massachusetts.

The lowest were Mississippi with $1,098, Iowa with $1,135, and West Virginia with $1,237.

Alaska leads states in highest credit card debt: Financial News - Yahoo! Finance

And to think those numbers are from 2006 so they are probably higher now!
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robert.loehmann
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Postby robert.loehmann » Sun Aug 31, 2008 4:23 am

haha I would think one of the more expensive states like CA would have higher credit card debt.

I thought all Alaskans got royalties from the oil there and don't the native Americans there get like 40k a year free from the govt?? haha with all those handouts you would think they would know how to pay their bills!!

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Not very accurate!

Postby fffresh » Sun Aug 31, 2008 2:47 pm

If those numbers are from 06 the paradigm has shifted by now. Blue collar states that have lost their jobs to outsourcing like Michigan and Pennsylvania must certainly rank in the top 10 now

This is deceiving since they don't differentiate between debt paid off each month and debt carried for many months. Many people do put a few thousand on their card each month and pay it off in full when the statement comes. Then think of how much those numbers are skewed by plastic barbie's like Cindy McCain that charge hundreds of thousands per month on their cards?

What they need to do is a study of debt that is carried 2 months or more only. Those numbers should be much lower.

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Postby bozell » Mon Sep 01, 2008 5:27 pm

if alaskans get free royalty checks and still don't know how to pay their bills why should we think a 'hockey mom' from there would know how to run our country?

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Postby planetreef » Tue Sep 02, 2008 3:06 pm

I signed up for this message and totally forgot it until I received an email from credit card forum wishing me happy birthday :p

Is there anywhere that published all of the states instead of just the ones at the top and bottom. I would be interested to see that I wonder if certain geographic regions like the midwest compare to the southwest.

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Postby Mogul of Pineapples » Thu Sep 18, 2008 10:41 pm

The press release on it was pretty brief unfortunately. None of the other states were included or geographic regions. I agree the areas hit hardest with unemployment probably are the highest now in credit card debt like Michigan that you pointed out, which I think is number on in unemployment in the country.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
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