Business & Tech
Congratulations Pleasant Hill! Priceless!
A new report says the lowest credit card debts in the nation are owned by Bay Area residents having high-tech firms near or in their towns.
It’s being called the Apple Inc. Effect.
According to data just released by TransUnion, the lowest credit card debts in the United States are owned by Silicon Valley residents that have stable, high-tech firms in or close to their neighborhoods.
Find out what's happening in Pleasant Hillfor free with the latest updates from Patch.
Cupertino is number one nationally. Saratoga is number two. Mountain View and Sunnyvale tie for number three.
Cardhub posted the TransUnion data, which involves determining the number of months required to pay off the average credit-card balances in 2,547 U.S. cities.
Find out what's happening in Pleasant Hillfor free with the latest updates from Patch.
Los Altos is fifth on the list. Palo Alto is tied for the eighth spot with Fremont, and Los Gatos is tied at #21.
First place Cupertino residents have a ten month payoff timeline, averaging a $4,703 balance.
In second, Saratoga, with a 14 month timeline on an average $6794 balance.
The trend may have not made its way into the Santa Cruz area yet. Aptos is tied for #918 on the list, while Santa Cruz is tied for #2436.
Worst in the nation for credit card debt? College Station, Texas, where the average credit card debt is $5,601, and it will take 387 months to pay off.
You can see where your town falls on the list here.
(image via Cardhub, ShutterStock)
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