Monthly consumer credit payments in Phoenix are higher than the national average, according to credit reporting company Experian.
In an annual study of consumer’s bills — based on payments that show up on credit reports — Experian found that residents in the Phoenix area pay $957 a month in bills. That's 6 percent more than the national average of $903.
Washington, Seattle and Baltimore top the list of the highest average monthly payments, including a combination of credit card bills, car loans and mortgages. Washington ranked the highest, 42 percent higher than the national average.
Cleveland; Tampa, Fla.; and Pittsburgh have the lowest monthly consumer credit payments, Experian said.
Nationally, Experian says average monthly payment of $903 is down two percent in the last three years.
Experian based the data on monthly payments listed on individual consumer credit reports in the top 25 cities.
by Phoenix Business Journal November 12, 2010
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