San Diego County leads nation in the largest increase in credit card delinquencies

[Ken M.]

Joel Kotkin, executive director at Chapman University Center for Demographics and Policy, said that while households in other states also struggle with bills, California’s debt numbers may be high due to the cost of living.

“The pressures may be greater due to high costs,” he told The Epoch Times.

“They won’t be buying houses as much as elsewhere, but if they do, their debts will be enormous,” Kotkin said.

A December 2024 report by Upgraded Points, a financial information website, found that the California metropolitan area with the most severe credit card delinquencies—defined as 90 days or more past due—is the Riverside-San Bernardino-Ontario region with a 15.2 percent delinquency rate, the eighth worst in the nation. Meanwhile, the San Jose-Sunnyvale-Santa Clara metropolitan area had the lowest in the nation at 6.3 percent.

Another WalletHub report, released in July 2024, found that the city of Chula Vista in San Diego County leads the nation in the largest increase in credit card delinquencies, nearly 85 percent during the first quarter of 2024.

Numbers from the Bureau of Labor Statistics show the unemployment rate in California remained relatively steady from July to December 2024, ticking only slightly higher to 5.5 percent. The manufacturing sector, however, saw a 3.4 percent decrease in employment over the same period.

Household debt is not only on the rise in California.

In the first quarter of 2024, household debt per capita in California peaked at $86,940 before decreasing slightly in the fourth quarter to $86,130. The average U.S. per capita debt was only $50,540 in the fourth quarter.

Furthermore, a rising number of Californians were falling behind on said debt.