After four years of boasting the highest average credit score in the nation, the Twin Cities has dropped to second place in Experian's State of Credit Scores ranking.
This year, Wausau, Wis. ousted the champion, weighing in with an average credit score of 789.
Minneapolis and St. Paul residents have an average credit score of 787 out of 990 (the score used is the VantageScore credit score, not the more commonly known 850 FICO Score range).
While it's hard to say exactly why the Twin Cities ranked No. 1 from 2007 to 2010 and ranks No. 2 this year, the state's lower unemployment rate and higher median income are surely both factors.The area also has one of the lowest rates of late payments in the country. And as Jim Buchta mentioned on his blog today, the Twin Cities has a lower foreclosure rate than the nation.
But really, the mystery is what's in Wisconsin's water? Four of the top 10 ranking cities are from the Badger State. Duluth wasn't too far behind the top 10, with its average credit score of 773.
As for the 10 worst credit score cities, the majority are from the south.
Curious about how other American cities fared? Experian has an interactive map that outlines credit scores by city.
Here is some additional information about the Twin Cities and how it stacks up against the nation:
