WICHITA FALLS, Texas (TNN) - The state of Texas has been ranked 10th in states with the highest credit card debt, according to a study done by WalletHub.
To determine which states have the least and most sustainable credit card debts, WalletHub looked at median credit card balances and credit card payments of residents based on data from TransUnion.
They used this information to determine the required number of months to pay off that balance as well as the resulting financial charge.
The list ranks all 50 states and the District of Columbia in order from the longest payoff timeline to the shortest.
The top ten in the list are as follows:
- District of Columbia
Ranked at 51 is the state of Mississippi.
For the complete list you can visit WalletHub’s website by clicking here.