Employees are struggling to afford rent, groceries, and gas, coupled with trying to save for retirement and paying off student loans. Americans are looking toward credit cards to help fill in some financial gaps. However, a credit card can be seen as a double edged sword. According to the Federal Reserve Bank of New York, credit card debt has reached a record high at $1.14 trillion in the second quarter of 2024. A new study from Forbes surveyed 2,500 people from 25 major metropolitan U.S. cities (100 people per city) to find out which residents struggle the most with credit debt. Columbus, OH rounds out the top 5 of the cities who are burdened the most with credit card debt. According to the report, a third of residents "have postponed major expenses because of their already existing debt levels". Denver, CO comes in first place, being the city that struggles the most with credit card debt. Denver residents have been making big changes to their lifestyle in order to pay off their debt. See the slideshow above for the top 5 cities that struggle the most with credit card debt. Related:

9 in 10 U.S. workers struggle with basic needs, retirement dreams fading

Student debt delinquencies threaten credit access for millions