Which ND cities have the largest increases in credit card debt?

BISMARK, ND (KXNET) — When it comes to credit card debt, old habits are hard to break. While most of us know the problems associated with overuse of credit cards, the last quarter of 2022 reported an all-time record for debt in the United States. A record $180.3 billion was added to Americans’ overall credit card debt by 2022, including an increase of $85.8 billion during the last quarter of that year alone (the largest increase on record). But just as prices vary from state to state, so do the amounts of debt that we’re looking at. So how does ND deal with this increase in debt?

The US Census Bureau surveyed 182 American cities about increasing their credit card debt, noting that two major cities here in North Dakota are making cuts. This study is based on a comprehensive analysis of the most recent data on consumer finance available from TransUnion, as well as the Federal Reserve and Bureau of Labor Statistics. Quarterly changes in credit card debt levels include the total amount of revolving credit (not seasonally adjusted) and accrued debt that is no longer on the credit card company’s books but continues to be consumer debt. All external and household debt amounts have been adjusted for inflation with data from the Bureau of Labor Statistics.

In terms of cities with the lowest levels of debt increases, Fargo has been in a very good position, at 43 the least compared to the previous quarter. The typical Fargo household has under $10,000 in household debt, up $1,189 from the previous quarter. However, the city’s population places overall debt on and increases at a much higher rate than other cities.

Rank	City	Household CC Debt	Increase/Decrease in Household CC Debt	Total Debt CC	Total CC Debt Increase/Decrease
43	Fargo, N.D	$9,822	$1,189	$548,650,686	$66,423,107

The capital of North Dakota, meanwhile, also earns a much higher spot on the list — Bismarck has been ranked as the city with one of the highest increases in credit card debt. On average, an ordinary household in the city owes about $11,000, an increase of $1,655 from the fourth quarter of 2022. In total, this amounts to a total debt of $344,525,129 — which alone is an increase of more than $50 million from the previous quarter.

Rank	City	Household CC Debt	Increase/Decrease in Household CC Debt	Total Debt CC	Total CC Debt Increase/Decrease
112	Bismarck, N.D	$11,033	$1,655	$344,525,129	$51,667,940

While managing credit card debt can be difficult at times, WalletHub also offers some tips for those who want to avoid it or work within their limits. Creating and sticking to a budget, building an emergency fund, and evaluating job opportunities and new approaches to your savings are all ways you can help reduce the impact this debt has on your lifestyle.

To view the full study, visit this page on the Wallethub website.