After the credit crisis, it’s been encouraging to see that across America credit scores have been slowly improving.Despite the improvements, many scores are still lacking.
As to be expected, some cities that have been hard hit by the crisis still have very low credit scores — up to 18% lower than the national average.
Using data from Experian, a credit information group, 24/7 Wall St. reviewed the 10 cities with the worst credit scores.
The cities with the worst credit scores primarily fall into two categories. In the first category, the cities’ median household incomes are significantly lower than the national average of $51,425, and the cities’ average debt is medium to high.
Very poor cities such as El Paso, TX, and Jackson, MS fall into this category. Because they are so poor, with such low income, their debt level, even if it is the same as that in other cities with better credit scores, is a larger burden and is more difficult to pay.
Keep reading ‘The 10 American Cities With The Worst Credit Scores’ at 24/7 Wall St. →
This post originally appeared at 24/7 Wall St.