JACKSONVILLE, Fla. – A growing number of Americans are carrying significant credit card debt, and new data shows Jacksonville ranks among the highest in the nation.
According to a recent study from LendingTree, Jacksonville ranks fifth in the country for the share of credit card holders carrying five-figure balances. The city also ranks among the highest in the state for residents with more than $50,000 in credit card debt.
The report found that 32.2% of cardholders in the Jacksonville area carry balances of at least $10,000.
Matt Schulz, chief consumer finance analyst at LendingTree, said Florida cities, including Jacksonville, are seeing higher concentrations of large balances.
“The troubling thing is that we found that a lot of the big cities in Florida, including Jacksonville, tend to have higher percentages of cardholders with $10,000 or more in debt,” Schulz said.
Experts say the rising cost of living is a major factor.
“It absolutely speaks to the high cost of living in Florida,” Schulz said. “Life is expensive everywhere. Florida is certainly no exception, especially in big cities like Jacksonville.”
The trend is accelerating. Five-figure credit card debt has surged more than 70% since 2019, with another 17% increase in just the past year.
Jacksonville also ranks fourth in Florida for households carrying more than $50,000 in credit card debt, highlighting deeper financial strain for some families.
Thomas Nitzsche, a financial educator with Money Management International, said many consumers are relying on credit cards to cover routine expenses.
“It becomes really an extension of your income,” Nitzsche said. “If you’re faced with a $200 or $300 shortfall every month, it’s probably going to go on a credit card because they’re familiar, relatively safe financial tools that people use every day.”
But he warns that approach can quickly spiral.
“If you do that month after month, eventually you run out of runway,” he said.
Nitzsche recommends starting with a clear understanding of your finances.
“The first step really is understanding your budget, what’s coming in and what’s going out, so you can figure out how much you have to put toward debt,” he said.
He also suggests building a small emergency cushion and prioritizing either high-interest balances or smaller debts to gain momentum.
Across Florida, metro areas like Miami and Tampa are seeing even higher rates of credit card debt, pointing to the role rising costs may be playing statewide.
For those struggling, experts say one simple step can make a difference: call your credit card company and ask for a lower interest rate. According to LendingTree, about 83% of consumers who make that request are successful.
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