San Francisco-based CreditKarma reports that although consumer credit card debt is down 3 percent since January, credit scores are worse.
High unemployment and a poor real estate environment have hurt credit scores even though people are paying off debt. Credit scores are down 2 points on average since the start of the year.
Among the report's findings:
o New Hampshire residents cut credit card debt by 11 percent–tops in the nation
o California, New Jersey and Massachusetts residents have the highest average credit score in the country at 685
o Arkansas has the lowest average credit score at 640.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.