In a new study conducted by WalletHub, Kentucky was ranked fifth from last in credit diligence, which was defined as the ongoing process involving managing debt responsibly while also monitoring one’s credit reports for inaccuracies.
There were six key metrics that WalletHub used to find out how diligent residents were in each state in terms of their credit. Those range from customers who have filed disputes with creditors to percentages of frozen credit cards and bankruptcies across the nation.
Here is how Kentucky ranked out of 51 states plus Washington D.C.:
- Overall Rank: 46th
- 48th – Percentage of Customers Who Have Collections Tradelines (Q1 2024)
- 42nd – Percentage of Customers Who Have Missed Payments (Q1 2024)
- 47th – Percentage of Customers Who Have Active Bankruptcies (Q1 2024)
- 42nd – Percentage of Customers Who Have Foreclosures (Q1 2024)
Though Kentucky was not ranked in the bottom five in percentage of frozen credit reports or missed payments, the other four criteria were enough to rank Kentuckians near the bottom in the United States in diligence with credit.
You can find the full study here.
This article appears in Jun 19 – Jul 2, 2024.
