Spokane residents like their credit cards

Spokane residents are among the nation’s most indebted users of credit cards, according to a report released Wednesday by Experian.

The company said the average Spokane credit card user had a balance of $4,572 at the end of 2010, compared with a national average of $4,200.

The city was also second to Columbus, Ohio, in the increase in debt since December 2009.

Seattle card users owed $4,877, good for seventh highest in the United States.

San Antonio, Texas, residents were the most indebted of the 125 metropolitan areas sampled, with average balances of $5,177.

Credit-monitoring agency Experian said consumers have reduced the number of cards they have by almost 23 percent since 2007. The average is slightly less than two cards per consumer.

But, said Experian Vice President Maxine Sweet, fewer cards can work against consumers who depend heavily on one card or two because high utilization of available credit lines impairs their credit score. Having a few additional cards, even if they are not used, reduces the overall utilization rate, and improves their score, she said.

“By carrying over credit card balances, and utilizing a significant portion of their available credit, they can potentially negatively affect their credit scores,” she said.

Utilization rate also accounts for 23 percent of a consumer’s VantageScore, a grade developed by Experian with Equifax and TransUnion, the other two major credit-monitoring agencies.

Sweet said VantageScore, a fee add-on to free credit reports, tells consumers what type of borrowing is hurting their credit.