Arkansas No. 4 in credit card debt burden, report shows

KNWA
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FAYETTEVILLE, Ark. (KNWA) — A new report from CreditCards.com notes that Arkansas is the state with the fourth-highest credit card debt burden in the country.

Sandwiched between West Virginia at No. 3 and Mississippi at No. 5, Arkansans owe nearly $8,000 in credit card debt on average. They typically pay it off in 16 months on average.

Mark Foster is the director of education for Credit Counseling of Arkansas in Fayetteville, and he said just like with anything, it’s all about preparation in the battle against debt.

“Stop pouring gas on the fire is important, so cut up that card, put it up,” Foster said. “You might wanna talk to a financial professional.”

Foster said the best thing to do is pay off credit card charges the month after accruing charges. He said a lot of people do that, and it gets them into trouble.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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