A new report from CompareCards.com finds that Americans are increasingly reliant on credit cards. Across 50 major U.S. cities, credit card balances grew 3.6 percent on average over the past year, according to the report, which cites data from My LendingTree. In some cities, average balances grew more than 10 percent.
Austin, Texas, ranks No. 1 overall. In September 2017, residents had an average credit card balance of $6,165, the report finds, and this past September it grew to $6,924. That's an increase of 12.3 percent.
The 10 cities with the largest credit-card balance growth are mostly in the South and the West, with four in California, including San Jose, where the average balance rose 10 percent.
With $7,649, residents of Washington, D.C., have the highest average credit balance overall this year, while those living in Indianapolis, Indiana, have the lowest: $5,393.