People preparing for retirement are wise to get all their ducks in a row — including paying off any debt that can be eliminated before they retire and find themselves on a fixed (and often substantially reduced) income. Among the types of debt people carry, a prime target for such a payoff is credit card debt.

With the high rate of interest typically charged when a person carries a balance from month to month, it only makes sense to pay it off as quickly as possible.

Since the Great Recession, lots of folks have been stuck, though, carrying balances when before they might have paid off whatever they charged each month.

But more and more baby boomers are hitting the age when they'd like to leave the office behind, so it would be good to know where it might be easier to get a handle on credit card debt and pay it off, once and for all, before they retire.

Now that reports keep saying that the economy is on the upswing, CreditCards.com very helpfully took a look at how easy/difficult it is to pay off those balances.

It graded the 25 largest metropolitan areas in the country, based on how long it would take to pay off the average balance in that area.

Using data from the Census Bureau for median earnings for the 25 largest metropolitan areas in the country, and from Experian on average credit card balances, they ranked those areas from best to worst.

CreditCards.com said that, to arrive at the numbers it used, “[t]he payoff time was calculated assuming that 15% of the median income was devoted to pay off credit card debt, as 15% is a benchmark often used by credit counselors to determine a reasonable ability to repay a debt.”

Interest on the balances was calculated at a “typical” rate of 13%.

There are notable variations from region to region within the country.

Unemployment rates, the strength of the local economy, regional habits — such as not carrying a balance, but paying off the total owed each month — and outliers such as higher housing costs along the coasts — all can play a role in how difficult or easy it might be for people to pay off their balances.

These are all factors future retirees might want to keep in mind, particularly if they're considering a relocation for the duration of their retirement.

Here are the 10 best places to be if you're trying to pay off a load of credit card debt.

1. San Francisco–Oakland–San Jose

It would take just nine months to pay off an average balance of $4,393 in this metropolitan area.

During that time, the consumer would be paying $227 in interest on the balance of the average of 2.36 credit cards, but thanks to the median annual salary of $44,491, he'd still be able to do it in under a year.

2. Boston

While it would take 10 months to pay off the average Bostonian's credit card balance of $4,524, the median salary of $39,458 would help.

Still, there's $267 to pay in interest on an average of 2.37 cards.

3. Washington, D.C.

The average balance here is pretty high — $5,046 — but so is the median annual salary, at $45,909.

So it will only take 10 months to pay it off, despite interest charges of $286 and an average number of 2.29 cards per person.

4. Minneapolis–St. Paul

While it will take a little longer here — 11 months — to pay off the average balance of $4,359 and interest charges of $266, the median salary of $36,698 does help.

Of course, so would lowering the average number of cards to be paid off: 2.27.

5. New York City

Perhaps surprising given its notoriety for the high cost of almost everything, it would only take a New Yorker an average of 11 months to pay off a balance of $4,661 and interest charges of $293.

This despite the average number of cards — 2.53 — and probably helped along by a median annual salary of $38,107.

6. Baltimore

Balances here average $4,876, with an average payback time of 11 months and interest charges of $301.

Median salaries of $40,604 are definitely an asset, since the average number of cards is 2.20.

7. Philadelphia

It takes an average of 11 months here in the City of Brotherly Love, too, with interest charges of $307, to pay off the average balance of $4,664 carried on an average of 2.25 cards.

The median salary in Philly runs $36,430.

8. Seattle–Tacoma

Here in the Pacific Northwest, the median salary is $38,440 and the average number of cards is 2.15.

So even though the average balance is $4,840 and the interest runs $313, it will take just 11 months to pay off the balance.

9. Sacramento

It takes 12 months for a Sacramento resident to pay off an average credit card balance of $4,299, including $283 in interest.

The average number of credit cards is lower here, at 1.97, which is a good thing with median salaries running just $32,454.

10. Pittsburgh

Again, it will take 12 months — a whole year — to pay off an average balance of $4,171 and the accompanying interest of $287.

Median salaries are $31,149 and the average number of cards is 2.19.

Instant Insights /

10 Best Cities for Paying Off Credit Card Debt

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