A new study ranks Connecticut consumers 43rd nationally for its creditworthiness. The ranking is based on average credit score, credit card debt and income among the 50 states and the District of Columbia.
Connecticut residents have the third highest average credit card balance at $4,907, according to the CreditCard.com report. The average credit card balance is $4,391. Alaskans by far have the highest average balance at $5,868. Connecticut, according to the report, has the fourth highest average income and 12th highest average credit rating.
However, the report said high income and good credit rating do not necessarily translate into good creditworthiness. Maryland, which is ranked as the worst state at managing money, is cited as a good example. On average, Maryland has the second-highest median income in the U.S. (33 percent above the national median) but only the 31st-best credit score. Maryland’s average credit score is 37 points lower than its income suggests it should be, the report said.
