Toledo households have nation’s second-lowest credit card debt

Households in Toledo have an average of $9,458 in credit card debt, a figure lower than that of households of all but one major U.S. city.

According to a study by WalletHub, a personal finance website, Toledo’s per-household credit card debt is 181st lowest in the nation. Only Madison, Wis., had less. Toledo’s total credit card debt was calculated at $1.12 billion.

At the top of the list of cities with the most credit card debt was Santa Clarita, Calif., whose average household carries $21,625 in credit card debt. As the study’s authors point out, Santa Clarita has a much higher median income than the U.S. average, which suggests that people there may have large credit card spending limits and can afford to spend more.

The 182 cities studied represent the 150 most populous U.S. cities, plus at least two of the most populous cities in each state.

Of the Ohio cities studied, Cincinnati had the highest per-household credit card debt at $10,942, followed by Columbus with $10,850, Akron with $10,512, and Cleveland with $10,106.