Foster City, CA (PRWEB) July 29, 2013
A CardRatings.com study evaluated five important credit conditions in each of the 50 states and determined that while significant progress has occurred in some areas, other parts of the country appear firmly rooted at the bottom of the ranking.
North Dakota again takes top honors in this years study, boasting high employment and low foreclosure activity. Nevada, with the highest unemployment rate and worst average credit rating in the nation, secured its spot as the worst state for credit conditions.
This information may be relevant to both individuals and businesses considering where to locate. Once financial problems become common in an area, they have a way of sucking more and more people in, says Richard Barrington, CFA, senior financial analyst at MoneyRates.com and CardRatings.com contributor. People who dont pay their bills can cause local businesses to go under; that leads to more unemployment, which means more people who cant pay their bills, and so on.
According to CardRatings.coms report, the 10 best states for credit conditions are: