Cities With the Best Credit Scores 2012

1. Wausau, Wis.

Henryk Sadura/Getty ImagesCity averages:
Credit Score: 789
Debt: $22,439
Number of Late Payments: 0.27
% Credit Available: 77.52
Number of Open Credit Cards: 1.71

The highest-ranking city is Wausau, Wis., a remarkable development considering that in the previous year, it didn’t even make the list. Interestingly, of all 10 cities on this list, four including Wausau, are in Wisconsin. When it comes to managing personal credit and debt, the people of Wisconsin must be doing something right.

2. Minneapolis, Minn.

Greg Benz/Flickr/Getty ImagesCity averages:
Credit Score: 787
Debt: $24,994
Number of Late Payments: 0.26
% Credit Available: 73.45
Number of Open Credit Cards: 2.08

In the previous year, Minneapolis, Minn., proudly topped the “State of Credit” list. However, times change, and during the most recent survey period, it fell one spot. Still, its average credit score of 787 is impressive, and the city owes it in part to a low unemployment rate of 6.9 percent, and a median family income of $82,700. On the negative side, it had 786 foreclosures.

3. Madison, Wis.

Original photography by Neos Design - Cory Eastman/Flickr/Getty ImagesCity averages:
Credit Score: 785
Debt: $23,533
Number of Late Payments: 0.27
% Credit Available: 75.90
Number of Open Credit Cards: 1.79

Madison, Wis., has fallen one spot to number 3, but like Cedar Rapids, the city is still in good standing despite the slippage. It has a lower-than-average unemployment rate at 6 percent, a higher-than-average median family income of $81,800 and a high percentage of available credit.

4. Cedar Rapids, Iowa

J Wynia/FlickrCity averages:
Credit Score: 781
Debt: $23,628
Number of Late Payments: 0.32
% Credit Available: 76.57
Number of Open Credit Cards: 1.82

Like most of the cities on this list, Cedar Rapids, Iowa, has fallen one spot since the previous year. Still, number 4 isn’t a bad place to be. Its high placement is due in part to a high percentage of available credit and a low unemployment rate of 6 percent.

5. San Francisco

Travelpix Ltd/Photographer's Choice/Getty ImagesCity averages:
Credit Score: 781
Debt: $23,973
Number of Late Payments: 0.30
% Credit Available: 72.83
Number of Open Credit Cards: 2.02

At number 5, San Francisco is the only city on this list to retain its ranking from the previous year. Its residents have a relatively high number of open credit cards and a relatively low percentage of available credit. At the time of the survey, the city had a 10 percent unemployment rate, higher than the national average of 9.2 percent. But at $101,600, San Francisco is the only city on this list with a six-figure median family income, which helps it to retain its foothold.