Here are the 5 worst and best places for credit card repayment. (Photo: Bloomberg)

A looming problem for workers is the challenge of paying off credit cards. In the quest for financial wellness, an important element is to eliminate as much debt as possible, particularly as retirement approaches. But increasingly workers are entering retirement not just burdened by mortgages, medical bills and student loan debt, but also carrying credit card debt. Read: 10 insights on 401(k) plans and participants: T. Rowe Price report In fact, we're in record territory, according to a new study on credit card debt by WalletHub. And what seems like good news may actually distract from the overall bad-news picture. |

Good news, bad news

The first quarter of this year presents the apparent good news—that the $40.3 billion in credit card debt that Americans paid off during the quarter would appear to signal an improvement in financial wellness, particularly since it was "the second-largest quarterly payoff ever." But, warns WalletHub, at the beginning of the year the collective credit card debt level was more than $1 trillion "for the first time ever"—with "a post-Great Recession record" of $91.6 billion in debt having been added to the total just last year. |

Will you carry credit card debt into retirement?

If things continue on at this rate, retirees will be in for a tough time carrying debt with them into retirement. According to WalletHub, the average level of credit card debt per household for Q1 2018 is $8,166, compared with $7,792 in Q1 2017, "roughly $300 shy of being unsustainable." WalletHub's study reviewed credit card repayment rates across the country. Using data from the U.S. Census Bureau, Federal Reserve and TransUnion, it ranked cities based on credit card debt repayment rates. |

5 worst and best places for credit card debt repayment rates

Below are the cities with the five worst and five best repayment rates: BenefitsPRO related reading: 10 insights into Vanguard's small plan universe Top 10 communities for well-being 6 companies with the very best retirement plans