Business & Tech
Sammamish Residents Have 'Least Sustainable' Debt: Study
Watch your spending. A new WalletHub study says Sammamish residents have some of the most unsustainable credit card debt in the U.S.
SAMMAMISH, WA - Watch your credit card spending this holiday season, Sammamish residents. The financial website WalletHub has ranked the city the 10th worst in the country for unsustainable credit card debt.
The study found that credit card debt in Sammamish was higher and would take longer to pay off compared to hundreds of other U.S. cities. In Sammamish, the median debt is $4,386, which would take an estimated 20 months and 24 days to pay off with a $575 monthly payment - that's based on the average 15.54 percent interest rate.
The report also found more concerning trends in credit card debt nationwide. In the third quarter of 2018, Americans in total had about $974 billion in outstanding credit card debt, the second-highest amount since mid-2008.
Find out what's happening in Sammamish-Issaquahfor free with the latest updates from Patch.
The average household carries about $8,284 in debt, up 2 percent from the third quarter of 2017.
You can read WalletHub's Q3 credit card debt assessment here.
Find out what's happening in Sammamish-Issaquahfor free with the latest updates from Patch.
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