Why Utahns struggle more than most of the nation with their credit card bills

Jan 25, 2024, 9:41 PM | Updated: Jan 26, 2024, 11:18 am

Many people find themselves with credit card debt coming out of the holidays. It’s not necessarily a bad thing, financially, if that debt is paid back quickly. But even extending payments out for a couple of months or skipping payments altogether can quickly erase any deals you found on Black Friday.

Here in Utah, specifically, it’s a problem.

“Utah is late on its credit card bills,” said WalletHub editor Christie Matherne.

To be clear, she says delinquencies are increasing across nearly all the United States. But, data WalletHub shared with the KSL Investigators shows Utah had the fourth-highest increase in credit card delinquencies from the third quarter of 2022 to the third quarter of 2023.

“It’s certainly a concerning trend, for sure,” Matherne said.

What’s to blame? The high cost of living.

Despite Utah generally having a strong economy and folks here generally having good credit scores, wages have not kept up with inflation. And we all know housing has become much more expensive over recent years. Matherne says if the trend continues, it could get worse for folks in the Beehive state.

“People tend to declare bankruptcy after they have defaulted on their credit card debts or their other debts,” Matherne said.

If you feel like you’re going to miss a payment, don’t just skip it — be proactive. It’s an awkward conversation, but calling a credit card company and asking permission to skip a payment is better than defaulting. And you may be surprised how often they’ll say yes.

KSL 5 TV Live

KSL Investigates

Matt Gephardt being shown the double payments that Terry Hutchings has been getting....

Matt Gephardt and Sloan Schrage, KSL TV

Get Gephardt helps homeowner being charged two bills for one security system

Billing for a previous home initially stopped when she sold it, but when she got a new security system from the same provider for her new place a year later it started billing for both.

12 hours ago

fences and buildings with an inmate walking on a snowy sidewalk...

Daniella Rivera

New Prison, New Problems: Inside the effort to staff Utah’s new $1 billion prison facility

Utah's new prison cost taxpayers more than a $ 1 billion, yet a scathing audit shows the new facility has been unsafe and still isn't being used as intended. After being granted unprecedented access, the KSL Investigators go inside the new prison for a look at what's being done to fix its new problems.

1 day ago

Neilson-Berg explaining the hassles and trouble she has been going through to get into contact with...

Matt Gephardt

Get Gephardt helps Google Fiber customer get her internet fixed after customer service calls go nowhere

When a Salt Lake City woman's internet connection went down, and she couldn't get a straight answer as to when it would be back up, she decided to Get Gephardt.

1 day ago

dome and side of the Utah Capitol...

Daniella Rivera and Annie Knox, KSL TV

Truth Test: Fact-checking claims from lawmakers who voted to make their calendars secret

The KSL Investigators put lawmakers’ statements about a measure that would conceal their calendars through the KSL Truth Test.

1 day ago

Sean Reyes...

Keira Fairmont

Fight for Transparency: KSL’s 15-month long battle to get Sean Reyes’ calendar

Utah’s Attorney General Sean Reyes still refuses to release his professional calendar despite State Records Committee and Judge’s orders. Now Utah Lawmakers have passed a bill to seal all public officials’ calendars.

2 days ago

Matt Gephardt with Hung Tran who is explaining why he has been trying to get his social security be...

Matt Gephardt

Get Gephardt helps retiree deadlocked with Social Security over lost birth certificate

The United States has been home for Hung Tran nearly 50 years. He came here as a refugee fleeing war-torn Vietnam in 1975.

2 days ago

Sponsored Articles

Modern chandelier hanging from a white slanted ceiling with windows in the backgruond...

Lighting Design

Light Up Your Home With These Top Lighting Trends for 2024

Check out the latest lighting design trends for 2024 and tips on how you can incorporate them into your home.

Technician woman fixing hardware of desktop computer. Close up....

PC Laptops

Tips for Hassle-Free Computer Repairs

Experiencing a glitch in your computer can be frustrating, but with these tips you can have your computer repaired without the stress.

Close up of finger on keyboard button with number 11 logo...

PC Laptops

7 Reasons Why You Should Upgrade Your Laptop to Windows 11

Explore the benefits of upgrading to Windows 11 for a smoother, more secure, and feature-packed computing experience.

Stylish room interior with beautiful Christmas tree and decorative fireplace...

Lighting Design

Create a Festive Home with Our Easy-to-Follow Holiday Prep Guide

Get ready for festive celebrations! Discover expert tips to prepare your home for the holidays, creating a warm and welcoming atmosphere for unforgettable moments.

Battery low message on mobile device screen. Internet and technology concept...

PC Laptops

9 Tips to Get More Power Out of Your Laptop Battery

Get more power out of your laptop battery and help it last longer by implementing some of these tips from our guide.

Users display warnings about the use of artificial intelligence (AI), access to malicious software ...

Les Olson

How to Stay Safe from Cybersecurity Threats

Read our tips for reading for how to respond to rising cybersecurity threats in 2023 and beyond to keep yourself and your company safe.

Why Utahns struggle more than most of the nation with their credit card bills