2 NY Cities Have Top Credit Scores — and 1 NJ Town Has Worst

A study by Wallethub released Wednesday showed that two New York towns were in the top 20 for best credit scores -— and Camden, New Jersey, is the worst out of the entire country.

Pittsford, New York, was number 15 in the nation with a median score of 774 and Scarsdale, New York, was in 20th place with 770. Camden, New Jersey, was number 2,572 with a median score of 543.

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"Almost three quarters of [Camden's] residents have bad credit, and less than 10% have excellent credit,” said Jill Gonzalez, a Wallethub analyst. “This could be due to the fact that the median earnings of a Camden resident are just above $30,000 per year, which obviously makes it hard to keep up with bills."

New York, New York, was in 815th place — still in the top 68th percentile with a score of 720.

"Overall, residents of the tri-state area have good credit scores on average,” said Gonzalez. “Paying bills on time, and keeping a credit utilization ratio below 30% are some of the things people can do to help raise their credit scores."

Photo Credit: Consumer Reports

from NBC New York - Top Stories http://bit.ly/2RLFja9