New report finds many Bronx residents in debt
Bronx residents spent more than ever this holiday season and many charged their purchases to credit cards.
A new report by the City Council shows that the average household debt is more than $4,000. The report found that New Yorkers spent more than $700 on presents this holiday season. Many of those gifts were charged on credit cards. The report also shows that New Yorkers can save thousands by picking a credit card with a low Annual Percentage Rate.
The City Council recommends that Bronx residents check their credit scores at least once a year.