SoCal Millennials Are Piling On Most Credit Card Debt

Say what you want about California but there are still people who will go to great lengths to live there. They likely will never be able to buy a home, but they can live there, for a while.

(From Zerohedge)

Beverly Hills’ Millennials were far ahead of the competition in terms of credit card debt, showing, as Statista’s Katharina Buchholz explains, the correlation that exists between high incomes and credit card use in the United States. Cities in affluent Southern California, especially in the Los Angeles area, had some of the highest average per capita credit card debt rates for Millennials, according to website Experian.

Beverly Hill’s Millennials piled on an average of more than $12,000 in credit card debt, far more than second-placed Monsey in the New York area, where the average debt rate was around $8,600.