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10 U.S. Cities with the Lowest Credit Scores

10 U.S. Cities with the Lowest Credit Scores | Credit Karma Blog

Here at Credit Karma we enjoy analyzing data every month. This allows us to get the pulse of how Americans are doing when it comes to their current debt and credit.

Last month we took a look at which U.S. cities have the lowest mortgage debt. This month we decided to look at cities with the lowest average credit score. * Is your city on this list?

Jackson, MS – 606
Detroit, MI – 612
Memphis, TN – 620
McAllen-Edinburg-Mission, TX – 622
Baton Rouge, LA – 626
Lakeland-Winter Haven, FL – 627
Oklahoma City, OK – 627
Birmingham- Hoover, AL – 628
El Paso, TX – 630
Greenville-Mauldin-Easley, SC – 630

Some Thoughts on the Numbers

Just because a city has a low average credit score, it doesn’t merely mean that its residents can’t pay their bills on time. There can be other underling factors; including a high number of foreclosures, a high unemployment rate or an overall low median household income.

Both Detroit, Michigan and Lakeland, Florida on our list also topped Realty Trac’s list for cities with highest foreclosure rates in 2012. Detroit ranked 39th in their October report and Lakeland ranked 5th in August with 1 in every 297 homes filing for foreclosure.

Although the overall economy is slowly getting better, most of the cities on our list have seen a decrease in their average credit score since last year. One of the reasons could be that credit scores are a tailing indicator, meaning that your current score indicates where you have been rather than where you are going. The residents of these cities are likely working to improve their credit situation following a difficult time for the economy.

Do you find these average scores surprising? Tell us your thoughts in the comments!

Amy Leone is the Public Relations Coordinator at Credit Karma. Before joining the team in June 2012 she spent most of her career as a TV news producer. When she’s not helping promote Credit Karma on a variety of media outlets, she’s probably out running or exploring her new state of California.

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*These numbers come from our April 2013 data. We took a look at the credit scores of the 1,615,960 of Credit Karma members total, ages 18 and above.

Credit and Personal Finance Blog | Credit Karma

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Posted by admin - May 24, 2013 at 10:08 am

Categories: Credit Card Approval Tags: Cities, Credit, Lowest, Scores, U.S.

Q&A: What’s a Good Business Credit Card for International Travel?

I need some advice. I have a small, nonprofit organization and I travel both domestically and abroad. I have an American Express business card, but many of the international destinations I go to don’t accept it. I’d like a Visa or MasterCard. Which of those two do you recommend? I’d prefer cash back to airline miles.

Your best bet is the Capital One® Spark^℠ Cash Select for Business. It’s a Visa, so you don’t have to worry about the card’s acceptance internationally. It has no foreign transaction fee, so you don’t have to pay an extra 3% of whatever you purchase overseas – and given the cost constraints nonprofits face, 3% can make a big difference. The card gives cash back, so there’s no hassle there, and it has no annual fee. Plus, it earns a full 1.5% back on every purchase you make – no bonus categories to deal with, which is helpful if you spend your money overseas. It’s simple, straightforward and great for travel.

Capital One® Spark^SM Cash Select for Business

Get a 50% bonus on the cash back you earn every year
Earn 1% cash back on every purchase, every day
Save with 0% intro APR on all purchases until December 2013
Enjoy no annual fee
Get online Quarterly and Year-End Summaries
Redeem cash rewards anytime, for any amount, even set up automatic redemption
Earn unlimited cash rewards that don’t expire

Pros

High rewards rate
No annual fee
No foreign transaction fee

Annual Fee	Signup Bonus	APR , Variable*	APR Promotions
$ 0	0% intro APR on all purchases until December 2013.	12.9% – 20.9% (V)	0% introductory APR on Purchases until December 2013.

If you’re working at a nonprofit, I also suggest that you check out our blog post on ways to avoid credit card processing fees on donations. Visa cuts its transaction fee on credit cards to 1.35% + $ 0.05, while participants in American Express’ Members Give program are charged 2.25%.

You can also get transaction fee-free donations through Capital One’s No Hassle Giving website, or a cool new startup called Frendo, which doesn’t charge for donations from a bank account.

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