Credit Scores in Alabama are some of the Lowest in the United States

IAmy Tannert was recently reported that, according to data provided by Wells Fargo, Alabama ranks 45th in the nation for average credit score. The report, using data from Experian, one of the largest credit reporting agencies, shows an average credit score for Alabamians of 650.

A senior economist for Wells Fargo speculated that this is a result of much of the state being rural communities and notes that the rural communities have “really struggled over the last 20 years.” The economist also noted that the economy in the metro areas of the state “are more broadly based” and, therefore, fare better with average credit scores in those areas.

According to the Wells Fargo data, Huntsville ranks number one with an average score of 663, just below the national average, with Mobile right behind at 653. However, Birmingham and Montgomery fall below the state average with their average scores of 646 and 641, respectively. The economist points out that the 2010 census showed that more of the population in Huntsville holds Bachelor’s degrees, 37.8 percent, compared to only 30.9 percent of people with Bachelor’s degrees in Montgomery. He goes on to note that it is fairly normal for people in an area with higher paying jobs in metro areas to have better credit scores and less debt.

Wells Fargo data also reported that credit scores between 621 and 699 are considered “fair” with these folks probably having a harder time getting credit and paying more for it.

If your credit score is not up to par and you are looking for a fresh start to turn this around please call our office nearest you and schedule a free initial consultation with one of our attorneys. We will explore all options with you to help you to reestablish better credit.

 

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Alabama Offices

Birmingham

2107 5th Avenue North
Age-Herald Building
Birmingham, Alabama 35203
Phone: (205) 802-2200


Shelby County Location
15 Southlake Lane, Ste 140
Birmingham, AL 35244
Phone: (205) 802-2200


Florence Location
121 S. Court Street
Florence, AL 35630
Phone: (256) 760-1010


Huntsville Location
225 Pratt Avenue NE
Huntsville, AL 35801
Phone: (256) 539-9899


Montgomery Location
311 Catoma Street
Montgomery, AL 36104
Phone: (334) 264-3363


Decatur Location
605 Bank Street
Decatur, AL 35601
Phone: (256) 355-2447


Haleyville Location
914 19th St.
Haleyville, AL 35565
Phone: (205) 486-3580


Gadsden Location
430-B Chestnut Street
Gadsden, AL 35901
Phone: (256) 485-0195


Opelika Location
216 South 8th Street
Opelika 36801
Phone: (334) 887-7666


Anniston Location
1302 Noble St #2C
Anniston, AL 36201
Phone: (256) 344-3559


Cullman Location
200 Second Avenue SW
Cullman, AL 35055
Phone: (256) 739-9866


Mississippi Offices

Jackson Location
5760 I-55 North, Ste 100
Jackson, MS 39211
Phone: (601) 353-5000


Hattiesburg Location
607 Corinne St, Ste B8
Hattiesburg, MS 39401
Phone: (601) 264-7200


Vicksburg Location
1212 Farmer Street
Vicksburg, MS 39180
Phone: (601) 353-5000

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