Study: Alabama ranks among states with lowest credit card debts

Alabama residents have some of the lowest credit card debts in the nation. That’s according to a recent study by personal finance website WalletHub that reported on states with the highest and lowest credit card debts as Americans are projected to have a net increase of $80 billion in credit card debt this year, due partly to Covid-19. Alabama ranked 50th on the list with a median credit card balance of $2,430, a median income of $41,639, the cost of interest until payoff at $174 and an expected…