States with lower average credit scores have experienced greater declines in the past couple of years than those with higher ones, according to a recent study by Montana-based analytics company Fair Isaac Corporation (FICO).

That, according to the company, means that residents of states with lower average scores have a larger percentage of the population struggling in the current economy, while those living in states with higher scores are faring much better.

Why It Matters

The Fair Isaac Corporation created the FICO score, a type of credit score which ranges from 300 to 850 and is used to assess a borrower’s creditworthiness. The higher the credit score, the more likely it is that a borrower will repay their debts on time.

A bad credit score—usually between 300 and 579 for a FICO scor

See Full Page