The average American has a credit card balance of $6,375, up nearly 3 percent from last year, according to Experian.

According to the Tribune (1/22/18) Americans are defaulting on their credit cards at the highest rate in nearly a year, and Chicagoans are leading the pack. Chicago residents are now more likely to miss a credit card payment than residents of any other major city, including New York, Los Angeles, Dallas or Miami, according to the S&P/Experian Consumer Credit Default Indices. Chicago also holds the title for highest combined default rates across car, home and credit card loans, S&P and Experian said.