To help taxpayers evaluate their spending and debt habits, the personal-finance website WalletHub published a ranking of residents’ credit scores in more than 2,500 cities nationwide. Seven Arizona cities ranked in the 92nd percentile and above with three of them in the top 99th percentile.
Sun City West, Arizona, ranked second highest among all of the cities surveyed.
WalletHub compared the median credit scores of residents in 2,572 U.S. cities “to give credit where credit is literally and figuratively due,” Adam McCann, financial writer at Wallethub. said.
“Have you ever wondered how well your neighbors, your coworkers or perhaps your local Starbucks barista handle their finances?” McCann asks. “Are they as responsible – or irresponsible – as you are when it comes to paying bills or knowing when to use or refrain from using a credit card?”
Its 2020's Cities with the Highest & Lowest Credit Scores ranked all cities according to TransUnion data as of September 2019.
With 99 being the best percentile and 1 being the worst, three Arizona cities ranked in the 99th percentile: Sun City West with a median credit score of 789, Green Valley with a score of 783, and Oro Valley with a score of 775.
Also in the top percentile were residents of Fountain Hills falling in the 97th percentile with a median credit score of 763; Cave Creek and Prescott in the 93rd percentile with scores of 756 and 755 respectively; and Sedona in the 92 percentile with a score of 753.
By comparison, residents in Phoenix fell toward the bottom, ranking in the 18th percentile with a media credit score of 660. Glendale, on the northwest edge of Phoenix fell in the 25th percentile with a score of 666.
Tempe fell in the 26th percentile with a score of 667. Mesa and Tuscon fared slightly better, falling in the 38th and 39th percentiles respectively, with scores of 675 and 676 respectively. Surprise, located roughly 45 minutes from downtown Phoenix, fell in the 57th percentile with a score of 704.
Faring slightly better, Peoria fell in 61st percentile with a score of 711, Chandler in the 63rd percentile with a score of 713, and Gilbert in the 68th percentile with a score of 721. Scottsdale residents fell in the 82nd percentile with a score of 740.
Wallethub only included the city proper in its analysis, excluding the suburbs in that city’s surrounding metro area. Each city was categorized by population size with large cities having more than 300,000 people, mid-sized between 100,000 and 300,000 people, and small cities with fewer than 100,000 people.
The report also includes information from financial experts on how to improve credit scores and access credit reports free of charge.