Last month 15 out of 19 banks passed the Fed’s stress test showing us that their overall health is improving slightly. Right now however one of the big question that still needs to be asked is how are the average Americans who bailed these banks out managing?
CreditSesame.com, a resource that provides consumers with a free credit score and debt analysis, took the ‘average state credit score analysis’ one step further and looked at the underlying ranges of consumers’ credit scores by state: Credit Score Stress Test.
A state was awarded good credit health if a majority of its residents fell within the good-excellent credit range and poor health if the general population fell within the ‘poor-bad’ credit range.
When all the results were completed 12 states were recognized as Healthy. They were: NY, NJ, CT, MA, VA, IL, MN, SD, CO, CA, OR and WA. There were six states that tested as struggling. These states were WV, AL, MS, LA, AR and WY. According to Credit Sesame, the nationwide credit score average is 668. Below you will find an interactive graphic that will help you see how your state fared in this report.
Make sure you also head over to Credit Sesame and check your credit score for free.
View this interactive on CreditSesame.com
Very interesting. Texas is right at the national average.
The real question is how long will the Fed have to inject life into the economy. Without the Fed pumping in hundreds of billions, we would be in a depression.
Woohoo CA!
I’m surprised that Michigan isn’t on the troubled list.