Austin-Area Cities Boast Lower Credit Card Debt Amid Soaring Levels Elsewhere

AUSTIN, TX — With recent news that the credit card debt burden now hovers around the trillion-dollar mark -- the highest it's been nationally in eight years -- an untold number of households undoubtedly tightened their purse strings.

But revolving debt in Austin and surrounding cities is among the lowest in the state, according to new analysis. Consumer research group ValuePenguin examined the debt loads in Austin, Leander, Pflugerville and Round Rock, showing levels considerably less than the state average.

Here's the breakdown among the examined cities:

• The credit card debt burden in Austin is 21 percent below the Texas average, according to researchers at ValuePenguin. Indebtedness in Austin is the 12th lowest in the state, with the average credit card debt at $5,819, according to ValuePenguin researchers.
• In Round Rock, the debt burden is 15 percent lower than the state average. That ranks the city as having the state's 17th lowest debt burden, with the average credit card debt at $6,872.
• Nearby, Leander posted the 19th lowest debt load in the state—14 percent lower than the state average, with $7,389 average debt burden.
• Pflugerville also fared well in the rankings. The city has the 22nd lowest credit card debt burden statewide, with a level of debt 12 percent lower than the state benchmark and an average debt burden of $7,265.

The ValuePenguin analysis yielded further insights into credit card debt burdens elsewhere in the state as well. Among some key findings:

• Lower Income towns on the outskirts of Dallas and spread out across the U.S.- Mexico border struggle the most with their credit card debt. Balch Springs, Brownsville, Laredo, San Benito & Lancaster all have a credit card debt burden that is the highest in Texas, and over 50% above the TX state average.
• Higher income towns like University Park, Sugarland, Southlake, Colleyville, and Friendswood feel less of a sting from their credit card debt, despite consistently carrying higher credit card balances than the rest of Texas.
• A high credit card debt burden speak to the economic realities of job losses, credit troubles and foreclosures faced by some Texans. Less than 50% of the populations of Zapata, Starr, and Willacy counties has a credit card or a home equity line of credit. That is significantly lower than the 71.9% national average, and the 66.2% Texas average.
• ValuePenguin’s Advice: If you must carry debt, take advantage of 0% APR offers. If a consumer is struggling with card debt, they should make sure to explore all their options to try and lower their monthly interest payments. The best way to do that is to examine the many zero percent cards that banks are offering consumers.

To see ValuePenguin's full findings, click here.

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