Here are the cities in the USA where people have the best and the lowest credit scores

by

If you’re wondering how you’re doing financially against the pandemic compared to your neighbors or other Americans in general, your credit score may be a good criterion.

The personal finance website WalletHub compared the average TransUnion credit scores of residents in 2,572 US cities in September to come up with a list of top and bottom performers when it comes to solvency.

Overall, recent research shows that Americans are generally doing well despite the economic devastation caused by Covid-19. Largely because of federal aid efforts, such as incentive checks, breaks in federal student loans and mortgages, and extended unemployment insurance payments, consumers save more money and pay off debt.

More from personal finance:
Will unemployment benefits end after one year?
The Covid exemption bill will not extend the evacuation ban that will expire this month
Elizabeth Warren and Bernie Sanders propose the 3% wealth tax for billionaires

In fact, WalletHub says debt repayment is at record levels. As a result, credit scores are actually improving nationally. For example, in July, the national average credit score rose to an all-time high of 711, according to FICO, the developer of one of the most used scores by creditors.

The top five cities with the highest average credit scores were, according to WalletHub:

  1. The Villages, Florida (807)
  2. Sun City West, Arizona (789)
  3. Sun City Center, Florida (789)
  4. Green Valley, Arizona (788)
  5. Los Altos, California (784)

Meanwhile, the top five cities are:

  1. Camden, New Jersey (552)
  2. East st. Louis, Illinois (552)
  3. Chester, Pennsylvania (552)
  4. Detroit (560)
  5. Gary, Indiana (561)

For all the good news, experts say the full impact of the pandemic on credit scores may not be known until the end of government aid.

“Serious crime rates remain near record lows,” Matt Komos, vice president of research and consulting at TransUnion, told CNBC recently. “However, the performance of these accounts still in accommodation will help shape the true picture of consumer credit.”

The full results of the WalletHub study are available here.

.Source