Credit card debt increase in Henderson among nation’s highest

Many credit card hardship programs can come at a cost.
Many credit card hardship programs can come at a cost.(Storyblocks)
Published: Jun. 7, 2023 at 3:08 PM PDT
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LAS VEGAS, Nev. (FOX5) - The personal-finance website WalletHub released its latest Credit Card Debt Study and found that in the first quarter of 2023, the year-over-year rise in credit card debt in Henderson ranked in the top ten highest in the nation.

According to that report, consumers’ first-quarter pay down nationally was the second-smallest in a decade at $24 billion.

The study released the following statistics for the City of Henderson:

  • Q1 2023 Change in Household Debt: $3,704
  • Average Household Debt: $15,451
  • Q1 2023 Total Change in Debt: $449,351,845
  • Total Outstanding Debt: $1,874,609,555

The average household credit card balance nationally was $9,654 at the beginning of 2023. That’s $2,566 below WalletHub’s projected breaking point for household finances.

The full results of the study are available here.