When it comes to having good credit, some cities outshine others, according to financial website WalletHub, which compared the median credit scores of residents in 2,572 U.S. cities of all sizes to determine where residents have the best — and the worst — credit ratings.
An "excellent" credit score ranges from 750 to 850, according to the two major scoring systems FICO and VantageScore, which rate credit on a scale of 300 to 850. A score from 700 to 749 is considered "good"; a score from 650 to 700 is "fair"; and a score from 300 to 649 is "bad."
The average U.S. adult has a "fair" score of 675, according to Experian's 2017 State of Credit report. But WalletHub, which pulled data from TransUnion, found that residents of the following 10 cities enjoyed a median score in the 99th percentile:
The Villages, Florida
Median credit score: 807
Sun City Center, Florida
Median credit score: 789
Sun City West, Arizona
Median credit score: 787
Green Valley, Arizona
Median credit score: 781
Saratoga, California
Median credit score: 780
Los Altos, California
Median credit score: 779
Lexington, Massachusetts
Median credit score: 778
Estero, Florida
Median credit score: 778
Laguna Woods, California
Median credit score: 777
Pittsford, New York
Median credit score: 773
These are primarily smaller, affluent cities, but some big cities perform well, too, WalletHub reports, including San Francisco (98th percentile), Seattle (97th percentile), Honolulu (95th percentile), San Jose (94th percentile) and Boston (92nd percentile).
A credit score is an important measure of your financial health: It signifies your trustworthiness to financial institutions. The better your score, the more likely you are to get a good deal on a home or a car, or to be able to rent an apartment. So it's important to take steps to improve your credit where you can. Here are four things to prioritize if you're shooting for a better score.
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Video by Beatriz Bajeulos Castillo