Nevada tops the list of U.S. states with poor credit conditions


Nevada tops the list for the 10 worst U.S. states when it comes to credit conditions, according to a survey of indicators by CardRatings.com released Monday.

Georgia, Florida, Arizona, California, Alabama, Mississippi, Illinois, Indiana and Tennessee round out the bottom 10 when it comes to credit scores and conditions.

"It's pretty much a credit disaster across the board," the survey said. "Nevada ranked worst for unemployment, bankruptcy, and credit scores."

North Dakota, Vermont, South Dakota and Montana, respectively, are the best states when it comes to credit scores and conditions. Iowa, Nebraska, Wyoming, Hawaii, Minnesota and Alaska round out the top 10.

"While we've made significant progress as a nation since the credit crunch a few years back, there is still more progress that needs to be made," said Curtis Arnold, founder of CardRatings.com, a nonprofit company that educates consumers about credit cards. "This survey underscores the fact that the need is greater in certain areas of the country."

Arnold said the list of the 10 worst states shows the road to economic recovery looks much longer for both the states and the people who reside in them.

There is a stark difference in the credit profile of the best and worst states for credit conditions, and "that should be food for thought for anyone considering a move or business venture," the survey said.

 

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