Credit Limits Decreasing The Most In These North Carolina Cities
Many of us experience the age old problem of ‘too much month at the end of the money.’ And, it’s important to take note of a study that examined which cities saw credit limits decreasing the most.
A WalletHub study ranked these cities with credit limits decreasing the most, including the most affected areas in North Carolina.
North Carolina Cities With Credit Limits Decreasing The Most
On the list of 100 cities with credit limits decreasing the most, Charlotte fared the best coming in at number 74 with a total score of 45.89. For perspective, the number one city on the list, Irvine, CA, the total score was 75.09.
However, Durham, North Carolina landed at number 5 on the list with a score of 65.87. Raleigh followed closely behind at number 11, Greensboro at number 14 and Winston-Salem at number 33.
As the article points out, any time there’s a decrease in credit limits it puts a strain on your budget or lack thereof if you turn to cards as a temporary emergency solution. And, obviously, the limits are put in place for our own good.
Why These Cities May Have Credit Limits Decreasing The Most
Cities with credit limits decreasing the most might indicate those areas are in a bit of financial distress. And, it’s a double edged sword of playing the financial game. Be careful if you see a decrease in your limit since continuing to spend the same with a lower limit hurts your credit score.
So, raise your hand if you’re in between pay days and the money from the last pay check isn’t enough to cover the basic expenses you have in the moment. Of course, we all find ourselves in that unenviable boat, sometimes more often than we like to admit.
Then, you either have to get a side hustle, second job or borrow. A quick, yet dangerous practice, can be resorting to throwing a few expenses onto a credit card. We intend to use it as a temporary fix. Sadly, it often gets away from us.
For more on the study, the full list of 100 cities with credit limits decreasing the most and how the experts arrived at the list, take a look at the full WalletHub article.
These 5 North Carolina Cities Are Where Credit Limits Are Decreasing the Most
5. Charlotte, NC
Overall Rank: 74
Total Score: 45.89
Average Credit Limit Rank: 50
Change In Average Credit Limit Rank: 66
The only city doing well on this list was Charlotte, perhaps influenced by the banking industry.
4. Winston-Salem, NC
Overall Rank: 33
Total Score: 55.24
Average Credit Limit Rank: 49
Change In Average Credit Limit Rank: 33
Winston-Salem didn’t fare too bad either at least compared to the other 3 largest cities in the state.
3. Greensboro, NC
Overall Rank: 14
Total Score: 60.67
Average Credit Limit Rank: 84
Change In Average Credit Limit Rank: 8
Not good news for those in Greensboro, ranking 14th out of 100 cities for decreases in credit limits.
2. Raleigh, NC
.
Overall Rank: 11
Total Score: 62.43
Average Credit Limit Rank: 43
Change In Average Credit Limit Rank: 14
This one surprised me with our state’s capital city ranking just outside the top 10.
1. Durham, NC
Overall Rank: 5
Total Score: 65.87
Average Credit Limit Rank: 47
Change In Average Credit Limit Rank: 5
And the worst city in North Carolina for your credit limit? Durham. I would have thought the thriving RTP would have helped!
