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Arizona seniors rank 12th in U.S. credit card debt

Arizona seniors rank 12th in U.S. credit card debt

Arizona seniors rank 12th in U.S. credit card debt

PHOENIX — AArizona’s seniors have the 12th more credit card debt in the United States, with an average credit card balance of $7,768, according to a recent data release from LendingTree.

LendingTree data found that retired Arizona workers People age 65 and older spend an average of 12.8% of their Social Security benefits on minimum credit card payments, ranking 16th in the country.

Arizona also ranked 16th in the nation in the minimum monthly credit card payment category, with an average payment of $239.53.

Alaska was the No. 1 state in the nation among seniors with an average credit card balance of $9,323, while South Dakota had the lowest in the nation with a balance of $4,368.

Alaska also ranked first for the highest average monthly minimum credit card payment, at $297.76. South Dakota was the state with the lowest payment, at $172.98.

The average credit card balance for consumers age 65 and older in the U.S. was $7,484 and the average credit limit was $57,166.

From January 1 to March 31, LendingTree researchers reviewed 307,000 credit reports of its users who had an active credit card.

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