Folks in some states are not doing so hot when it comes to managing their credit.

Sometimes, being an adult isn't fun. Just recently, I had to have a new HVAC system installed in my house, and that certainly wasn't cheap. It was definitely one of my least favorite adult purchases. Of course, part of being an adult is managing finances, and along with that comes being diligent with your credit line, such as managing debt responsibly or monitoring your credit report for inaccuracies. Those are things I always try to keep top of mind, but for some, it's a bit more of a struggle.

Wallethub recently conducted research into the states where people are the most diligent with credit in 2024. The website compared all 50 states across six key metrics. Each metric was graded on a 100-point scale, with a score of 100 representing the highest level of diligence. Wallethub then determined each state’s weighted average across all metrics to calculate overall scores. Here are the six metrics taken into consideration:

  • Percentage of Customers Who Have Collections Tradelines
  • Percentage of Frozen Credit Reports
  • Percentage of Customers Who Have Missed Payments
  • Percentage of Customers Who Have Active Bankruptcies
  • Percentage of Customers Who Have Foreclosures
  • Percentage of Customers Who Have Filled a Dispute in the Last Two Quarters
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Coming in at #1 on the list was Vermont, with folks in that state checking in as the most diligent with credit at a score of 83.53/100. Wallethub noted that Vermont had the highest share of people who filed a credit dispute in the past six months. This was a key indicator that people in Vermont have been actively looking at their credit reports for errors and getting them removed when one pops up. Additionally, the state had the third-lowest number of people with missed payments, the fifth-lowest share of people with collection accounts, and the seventh-lowest number of people with foreclosures during the first quarter of 2024.

Source: WalletHub

As you can see from Wallethub's interactive map above, Louisiana came in as the least credit-diligent state in 2024, claiming the #50 spot with a score of just 26.01/100. However, Kentucky was not too far back, checking in at #46 with a score of 39.66/100. Folks in the Bluegrass State appear to have some of the highest collection tradelines and bankruptcies. That said, 2024 isn't over, so it's possible people in Kentucky could move up the list as the year progresses. If you haven't checked your credit, now may be the time to do so.

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