Ever wonder which cities have the most responsible spenders and how your local community fairs overall? It turns out that that those living in the Midwest are most likely to have conservative spending habits and high credit scores, according to a report done by Experian–one of the three major credit bureaus. Here is a list of the top 10 major cities with the highest credit scores on average based on data provided by Experian.
1) Minneapolis, Minnesota
Minneapolis topped as the most responsible consumer compared to some of the largest cities in the United States. The average credit score of those living in Minneapolis is 787 with approximately $24,994 average accumulated debt. Of all the residents, the average number of late payments was 0.26, and Minneapolitans carried approximately 2.08 credit cards.
2) Cedar Rapids, Iowa
Cedar Rapids comes in at number two on the list with an average credit score of 781. The average debt for individual consumers was $23,628 with 0.32 late payments and 1.82 credit cards.
3) San Francisco, California
Despite the high cost of living in San Francisco, consumers are relatively responsible with a credit score of 781. The average debt was a little bit high at 23,973, contributed by 0.33 late payments and an average 2.02 credit cards.
4) Green Bay, Wisconsin
With a population of nearly 105,000 and an unemployment rate of 7.6%, Green Bay residents have an average credit score of 780. They carry $22,233 in debt, make 0.34 late payments per year, and hold 1.76 active credit cards.
5) Boston, Massachusetts
Being the capital of Massachusetts, Boston sets a pretty good example featuring an average credit score of 779. There average debt is 24,360, they are timelier with their payments than other candidates at 0.30, and hold 2.13 revolving credit accounts.
6) Peoria Illinois
Coming in at #6 on the list is another Midwest state, Peoria Illinois. Peoria residents hold an average credit score of 778 and a $26,075 average debt per consumer. They make 0.30 late payments on their 1.85 average open credit cards.
7) Seattle Washington
Seattle is the largest city in Washington State with a credit rating of 776. Their debt is the highest on the list with $26,720 in debt averaged between all the residents–this might also be contributed to the high cost of living. Approximately 0.34 payments are made late and 1.85 is the magic number of credit cards held in Seattle.
8) Pittsburgh, Pennsylvania
Pittsburgh has a population of 306,211 residents and is the 2nd largest city in all of Pennsylvania. The residents within this charming little town have an average credit score of 773 and $25,420 in debt; but don’t bet on Pittsburgh when it comes to who will pay you back most often. They come in at 0.39 for late payments, the highest percentage on the list with an average 2.01 open credit cards.
9) Santa Barbara, California
Home to a number of notable celebrity homes like Oprah Winfrey and Brad Pitt, Santa Barbara has an average credit score of 771. Total debts not too bad at $23,554, but they have 0.34 late payments per year and 1.92 cards in their wallet.
10) Honolulu, Hawaii
Taking a step away from the mainland, Honolulu takes the last spot on the list. Their residents may be spending more time on the beach then racking up debt, with a 769 credit score and $23,942 average debt. They make 0.32 late payments per year with 2.01 open accounts.