States With the Largest Credit Score Decreases – WalletHub Study

A good credit score is essential for qualifying for financial products with good terms and benefits, from credit cards to mortgages to auto loans. Your credit score increases or decreases based on how responsibly you use credit and pay it off. Unfortunately, the average credit score actually dropped in all 50 states over the past year, which indicates that Americans are struggling with things like increased debt and late payments.

To identify the states with the largest credit score decreases, we analyzed the latest WalletHub data on consumers’ finances from Q3 2023 to Q3 2024.

Main Findings

State Rank
Alaska 1
Vermont 2
Mississippi 3
Alabama 4
Tennessee 5
Nevada 6
Delaware 7
Florida 8
Massachusetts 9
Louisiana 10
West Virginia 11
North Carolina 12
Texas 12
Georgia 14
Missouri 15
Michigan 16
Pennsylvania 17
Nebraska 18
Virginia 18
Wyoming 20
Maryland 21
Ohio 22
California 23
New Jersey 23
Idaho 25
Illinois 25
New York 27
Washington 27
New Hampshire 29
Hawaii 30
Colorado 31
Rhode Island 31
Arkansas 33
Oklahoma 34
South Carolina 35
New Mexico 36
Indiana 37
South Dakota 38
Arizona 39
North Dakota 40
Connecticut 41
Montana 42
Kansas 43
Minnesota 44
Wisconsin 45
Utah 46
Iowa 47
Kentucky 48
Oregon 49
Maine 50

States with the Largest Credit Score Decreases

Overall Rank*  State Average Credit Score in Q3 2024  Q3 2024 vs. Q3 2023 
1 Alaska 679 -1.02%
2 Vermont 697 -0.85%
3 Mississippi 630 -0.79%
4 Alabama 641 -0.77%
5 Tennessee 653 -0.76%
6 Nevada 662 -0.75%
7 Delaware 669 -0.74%
8 Florida 690 -0.72%
9 Massachusetts 702 -0.71%
10 Louisiana 640 -0.62%
11 West Virginia 647 -0.61%
12 North Carolina 659 -0.60%
12 Texas 659 -0.60%
14 Georgia 662 -0.60%
15 Missouri 664 -0.60%
16 Michigan 669 -0.59%
17 Pennsylvania 670 -0.59%
18 Nebraska 674 -0.59%
18 Virginia 674 -0.59%
20 Wyoming 675 -0.59%
21 Maryland 679 -0.59%
22 Ohio 684 -0.58%
23 California 686 -0.58%
23 New Jersey 686 -0.58%
25 Idaho 687 -0.58%
25 Illinois 687 -0.58%
27 New York 690 -0.58%
27 Washington 690 -0.58%
29 New Hampshire 694 -0.57%
30 Hawaii 695 -0.57%
31 Colorado 697 -0.57%
31 Rhode Island 697 -0.57%
33 Arkansas 636 -0.47%
34 Oklahoma 649 -0.46%
35 South Carolina 655 -0.46%
36 New Mexico 662 -0.45%
37 Indiana 663 -0.45%
38 South Dakota 668 -0.45%
39 Arizona 673 -0.44%
40 North Dakota 681 -0.44%
41 Connecticut 685 -0.44%
42 Montana 692 -0.43%
43 Kansas 677 -0.29%
44 Minnesota 683 -0.29%
45 Wisconsin 689 -0.29%
46 Utah 691 -0.29%
47 Iowa 709 -0.28%
48 Kentucky 648 -0.15%
49 Oregon 684 -0.15%
50 Maine 687 -0.15%

Note: *No. 1 = Largest Credit Score Decreases

READ FULL ARTICLE HERE