The Ten American Cities With The Worst Credit Scores

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10. El Paso, TX
> Avg. credit score: 710
> Unemployment: 10.6%
> Foreclosure rate: 1 in every 4,080
> Median household income: $36,147
> Avg. debt: $23,639

El Paso has a fairly large average debt, especially when compared to its median household income, which is approximately $15,000 lower than the national average. Unemployment in the city is also one and a half percentage points higher than the national rate. The number of credit cards used by El Paso residents dropped significantly from an average of 3.77 cards per person in 2007 to 1.54 in 2011.

Also Read: America’s Disappearing Restaurant Chains

9. Tyler, TX
> Avg. credit score: 710
> Unemployment: 8.3%
> Foreclosure rate: 1 in every 4,196
> Median household income: $40,829
> Avg. debt: $26,048

Tyler has one of the highest average debts in the country. It also has a median household income nearly $11,000 less than the country’s median income. On the other hand, the East Texas city has both a below-average unemployment rate and below-average foreclosure rate.

8. Las Vegas, NV
> Avg. credit score: 709
> Unemployment: 14.2%
> Foreclosure rate: 1 in every 115
> Median household income: $54,327
> Avg. debt: $24,975

The housing market in Las Vegas has seen one of the worst downturns in recent years. A staggering one in every 115 houses was foreclosed in August 2011, significantly more than the national average of 1 in every 570. The city also has an exceptionally high unemployment rate of 14.2%. Worse still, the average number of late debt payments in 2011 was 0.66 per person — one of the highest rates in the country. While this is a decrease of 12% from 2010, it is an increase of 20% from 2007.

7. Bakersfield, CA
> Avg. credit score: 709
> Unemployment: 14.4%
> Foreclosure rate: 1 in every 159
> Median household income: $51,886
> Avg. debt: $25,697

Like Las Vegas, Bakersfield has a dismal foreclosure rate. It also has an exceptionally high unemployment rate of 14.4%. The average number of late payments per resident in the city is 0.62 for 2011. This rate is one of the worst among U.S. cities. However, it is a major improvement for Bakersfield, as its late payment rate was nearly 20% higher in 2010.

Also Read: America’s Biggest Airlines, Best to Worst 

6. Augusta, GA
> Avg. credit score: 709
> Unemployment: 9.6%
> Foreclosure rate: N/A
> Median household income: $36,823
> Avg. debt: $26,204

Augusta’s median household income is more than $14,000 lower than the national average. Yet the city has the eighth highest average debt in the country. While the city’s credit score has not changed from last year, the average non-mortgage debt decreased 2.2%.