SOURCE: Manilla

Manilla

May 15, 2013 09:30 ET

Manilla.com Identifies U.S. Markets at Highest Risk for Late Credit Card Payments, Fees

Data Reveals 67 Percent Decrease in Users' Average Credit Card Balances Since End of 2012

NEW YORK, NY--(Marketwired - May 15, 2013) - Account management service Manilla.com (www.manilla.com) released new data today providing insight on consumer credit card spending and debt. Manilla is the leading, free and secure service that allows consumers to manage their bills and other personal accounts on desktop, tablet and mobile devices.

The data found that the average credit card balance among active Manilla customers as of April 1 was $1,765.08, which is down 67 percent from the average credit card balance of $2,621.20 at the end of 2012, possibly pointing to consumers paying off their holiday shopping bills. According to the data, some of the worst debt offenders are located in Florida, with Orlando-Daytona Beach-Melbourne, West Palm Beach and Tampa-St. Petersburg representing three of the top 10 markets with the highest average credit card balances.

The worst offenders for credit card debt as of April 1 are:

1. Kansas City, Mo.: $2,743.09
2. San Diego: $2,667.75 
3. Baltimore: $2,451.53
4. Orlando-Daytona Beach-Melbourne, Fla.: $2,367.36
5. Cleveland: $2,334.23
6. West Palm Beach-Fort Pierce, Fla.: $2,297.35
7. Salt Lake City: $2,186.56
8. New Orleans: $2,180.13
9. Tampa-St. Petersburg, Fla.: $2,145.35
10. Chicago: $2,018.44 

"Consumers need to keep a close eye on all accounts, particularly credit cards, as they can negatively impact your credit rating if they are forgotten or left unpaid," said Jim Schinella, CEO of Manilla. "Manilla's automatic reminders mitigate this risk, alerting consumers about nearly overdue bills and providing a resource for keeping tabs on all finances and accounts, regardless of time or location. This becomes particularly important as we enter the summer months, when travel is more frequent and payments are harder to keep track of."

Manilla's platform provides convenient, secure online access to all household accounts and services for more than 3,500 businesses. The free service helps consumers manage all of their household accounts, including financial accounts, utilities, subscriptions, daily deals and travel rewards programs, all through Manilla.com or via the Manilla Android or iOS mobile apps.

Consumers can use Manilla to securely pay bills online, set reminders and custom alerts, track spending, sign into accounts with one password, and store unlimited documents online, among other features.

About Manilla
Manilla organizes and simplifies people's lives by providing one secure access point to all household accounts and services. The free service helps consumers manage their household accounts, including financial accounts, utilities, subscriptions, daily deals, and travel rewards programs, all through Manilla.com. Consumers can also use all of the Manilla features on the go by using Manilla's 4+ star customer-rated Android and iOS mobile apps. Under a single password, Manilla gives customers an automated, organized view of all of their account information, text and email reminders to pay bills, renew expiring subscriptions, and manage soon-to-expire daily deals, all with unlimited storage and seamless document retrieval.

Manilla is a company incubated within and backed by Hearst Corporation. Manilla is the recipient of the Webby Award and People's Voice Award for Best Banking/Bill Pay Service and was chosen as ABC News "App of the Week," as one of Money Magazine's "Top Money Apps" and as one of PCmag.com Top 100 Websites. For more information, please visit www.manilla.com.

Contact Information