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A recentstudy by LendingTreerevealed that Gen X has morecredit card debtthan any other generation.
Also see five myths about debt that nobody should believe in 2024.
How Does Gen X Credit Card Debt Compare?
The median Gen X credit card debt balance across 100 metros is $6,255.
Gen Xers in the five cities below have a considerably higher median credit card debt balance.
The Wealth Watch survey found that all generations have succeeded in decreasing their debt since the end of 2023.
However, credit card interest rates remain high.
The Fed reported an average credit card interest rate of 22.76% in May 2024.
Consolidating your credit card debt with a personal loan could lead to substantial savings.
The average 24-month personal loan APR was only 11.92% in May.
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