CHULA VISTA, Calif. — From inflation, to record-high interest rates, credit card debt is continuing to climb, especially in Chula Vista.
A WalletHub study analyzed cities with the most credit cards and found Chula Vista is in ninth place.
"It's kind of scary the fees that they add on, if it's by chance late, they mark you down horribly," Natali Ferguson said.
Christie Matherne added, "It can be overwhelming and it takes over your whole mental state."
Sonny said, "There are times when you do not have any cash, so it's good."
Credit cards are tempting, offering quick cash, and things like travel rewards.
Matherne, an editor at WalletHub warns, don't fall into the trap.
After looking at where credit card ownership is increasing the most, WalletHub found on average, each single adult in Chula Vista opened a new credit card in the last few months of 2023 - giving them around six credit cards total.
The nationwide average is closer to three.
"It's very difficult to manage six credit cards at once, remember due dates and if you keep them all in your wallet, it's just very tempting," Matherne added.
Their study analyzed four major metrics across 182 cities.
Chula Vista came in 9th place, when it comes to new cards opened and overall number of credit cards.
"Rank them in order of highest interest rate and that is the debt you're going to want to pay first. Also, put everything on auto pay for sure, because that's going to protect your credit score," she said.
Port St Lucie, Florida took the top spot - with the average person owning closer to seven credit cards. Other cities in the top ten include Irvine California, Nashua New Hampshire, Tempe Arizona and Shreveport Louisiana.
According to this study, Washington DC is the most responsible when it comes to plastic.
"I really didn't know much about credit cards and now that I have one, I've maxed it out and no one really told me not to max it out, I've noticed I can't get an apartment," Ferguson said.
Opening new cards can impact your credit score and therefore, things like housing - so our experts recommend waiting at least six months in between credit card applications and make a budget to see where you can cut.
If you can't make the minimum payment, consider a debt consolidation method – like a balance transfer, or a loan - as long as the interest rate is lower than what you're already paying.
"Especially being 23 and trying to live and go to school, do everything right - it is a struggle," Ferguson added.
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