For most Americans, the debt crisis is steadily fading in the rear-view mirror, but in some parts of the country the issue is still front and center. A look at credit conditions in all 50 states and the District of Columbia revealed sharply different conditions depending on where you look.

Take for instance the foreclosure filings in Florida. Recently Florida's foreclosure rate was running at nearly 28 times the rate in South Dakota. Bankruptcy filings are 10 times more common in Tennessee than in Alaska and unemployment is almost three times as high in West Virginia as in Nebraska.

As part of an annual study, CardRatings.com looked at a total of five factors and assessed how each state ranked within the categories. The results determined which states are in the best and worst shape with regard to credit conditions.

  1. Average credit scores from Equifax
  2. Foreclosure rates from RealtyTrac
  3. Credit card delinquency rates from TransUnion
  4. Unemployment rates from the US Bureau of Labor Statistics
  5. Bankruptcy rates from the Administrative office of the US Courts

The ten best states for credit conditions

1. South Dakota

South Dakota Credit Score

Average credit score: 719

Foreclosure rate: 1 in 13,544

Credit card delinquency rate: 0.79%

Unemployment rate: 3.8

Bankruptcy rate: 1 in 738.04

This state took over the top spot by ranking among the ten best states in every category, including having the lowest foreclosure rate. In South Dakota, only 1 per 13,544 housing units went into foreclosure, this rate is drastically different than the 1 in 486 rate Florida recently experienced.

2. Vermont

Vermont Credit Score

Average credit score: 722

Foreclosure rate: 1 in 4,306

Credit card delinquency rate: 0.89%

Unemployment rate: 3.6

Bankruptcy rate: 1 in 950.78

After tying for second last year, Vermont takes over sole possession of this spot in 2015. Vermont ranked top ten in every category this year, including having the second highest average credit score of any state.

3. Montana

Montana Credit Score

Average credit score: 715

Foreclosure rate: 1 in 9,477

Credit card delinquency rate: 0.80%

Unemployment rate: 3.9

Bankruptcy rate: 1 in 757.09

Sliding up from fourth in 2014 to third this year, Montana is another state which ranks among the ten best in all five categories.

4. North Dakota

North Dakota Credit Score

Average credit score: 721

Foreclosure rate: 1 in 1,298

Credit card delinquency rate: 0.73%

Unemployment rate: 3.1

Bankruptcy rate: 1 in 1186.97

Since North Dakota rode the energy boom to economic prosperity, it is not surprising to see it fall out of the top spot for credit conditions following the plunge in oil prices over the past year. Still, North Dakota remains among the ten best states in four out of five categories.

5. Wyoming

Wyoming Credit Score

Average credit score: 713

Foreclosure rate: 1 in 10,522

Credit card delinquency rate: 0.88%

Unemployment rate: 4.1

Bankruptcy rate: 1 in 643.34

Wyoming moved up a couple slots in this years analysis with consistently good performance across the board, ranking no worse than 14th in any of the five categories.

6. Minnesota

Minnesota Credit Score

Average credit score: 721

Foreclosure rate: 1 in 2,038

Credit card delinquency rate: 0.81%

Unemployment rate: 3.9

Bankruptcy rate: 1 in 483.79

With the third best average credit score of any state, and also ranking among the ten best states in terms of credit card delinquency and unemployment rates, Minnesota was able to improve by three places in this year's study.

7. Iowa

Iowa Credit Score

Average credit score: 712

Foreclosure rate: 1 in 2,228

Credit card delinquency rate: 0.85%

Unemployment rate: 3.7

Bankruptcy rate: 1 in 659.41

Having the fifth-lowest unemployment rate of any state leads the way in Iowa's generally strong performance across all five categories.

8. Nebraska

Nebraska Credit Score

Average credit score: 713

Foreclosure rate: 1 in 2,704

Credit card delinquency rate: 0.86%

Unemployment rate: 2.6

Bankruptcy rate: 1 in 433.63

With an unemployment rate of just 2.6 percent, Nebraska has the lowest rate of joblessness in the nation, and is better than the median state in every other category as well.

9. Hawaii

Hawaii Credit Score

Average credit score: 723

Foreclosure rate: 1 in 1,592

Credit card delinquency rate: 0.95%

Unemployment rate: 4

Bankruptcy rate: 1 in 866.11

Besides having the highest average credit score in the nation, Hawaii is better than median in every other category except foreclosure rate, where it falls about in the middle of the pack.

10. New Hampshire

 New Hampshire Credit Score

Average credit score: 717

Foreclosure rate: 1 in 1,881

Credit card delinquency rate: 0.99%

Unemployment rate: 3.8

Bankruptcy rate: 1 in 587.87

Rounding out the top ten is New Hampshire, which excelled by having a high average credit score and low unemployment rate but fared only mediocre in categories like credit card delinquency and foreclosure.

WashingtonIdahoMontanaNorth DakotaMinnesotaWisconsinMichiganOregonWyomingSouth DakotaIowaIllinoisIndianaOhioCaliforniaNevadaUtahColoradoNebraskaKansasMissouriKentuckyArizonaNew MexicoTexasOklahomaArkansasLouisianaMississippiTennesseeAlabamaGeorgiaFloridaWest VirginiaMarylandPennsylvaniaNew YorkVermontNew HampshireMaineMassachusettsRhode IslandConnecticutNew JerseyDelawareVirginiaNorth CarolinaSouth CarolinaAlaskaHawaiiWashington DCDEVTNJRICTNHMAMDDC

The ten worst states for credit conditions

1. (tie) Georgia

Georgia Credit Score 

Average credit score: 662

Foreclosure rate: 1 in 1,148

Credit card delinquency rate: 1.59%

Unemployment rate: 6.1

Bankruptcy rate: 1 in 197.47

After finishing second-to-last in 2014, Georgia slips into a tie for the worst state for credit conditions this year. Major problems include a low average credit score, and high rates of credit card delinquencies and bankruptcies.

1. (tie) Nevada

Nevada Credit Score

Average credit score: 679

Foreclosure rate: 1 in 677

Credit card delinquency rate: 1.53%

Unemployment rate: 6.9

Bankruptcy rate: 1 in 279.44

The root of Nevada's credit problems may be its stubbornly high rate of unemployment, which at 6.9 percent is third worst in the nation. In any case, this is the fifth year in a row Nevada has ranked as the worst state for credit conditions. This year it is tied with Georgia, but it is doubtful that this type of misery loves company.

3. Louisiana

Louisiana Credit Score

Average credit score: 659

Foreclosure rate: 1 in 1,425

Credit card delinquency rate: 1.59%

Unemployment rate: 6.4

Bankruptcy rate: 1 in 324.13

Below average in all five categories, Louisiana's biggest problems are the second lowest average credit score and the third highest rate of credit card delinquencies in the nation.

4. Alabama

Alabama Credit Score

Average credit score: 663

Foreclosure rate: 1 in 1,762

Credit card delinquency rate: 1.54%

Unemployment rate: 6.1

Bankruptcy rate: 1 in 192.63

Despite being a little better than median on foreclosure rate, being near the bottom in average credit score, credit card delinquencies, and bankruptcy rate dragged Alabama down to the fourth-worst ranking.

5. Tennessee

Tennessee Credit Score

Average credit score: 675

Foreclosure rate: 1 in 1,306

Credit card delinquency rate: 1.36%

Unemployment rate: 5.7

Bankruptcy rate: 1 in 175.75

The biggest credit problem in Tennessee is the bankruptcy rate, which is the highest in the nation.

6. Mississippi

Mississippi Credit Score

Average credit score: 650

Foreclosure rate: 1 in 5,090

Credit card delinquency rate: 1.85%

Unemployment rate: 6.6

Bankruptcy rate: 1 in 274.56

In addition to having the lowest average credit score, Mississippi has the highest rate of credit card delinquency.

7. Florida

Florida Credit Score

Average credit score: 683

Foreclosure rate: 1 in 486

Credit card delinquency rate: 1.39%

Unemployment rate: 5.5

Bankruptcy rate: 1 in 318.90

Real estate problems continue to plague this state, with the nation's highest foreclosure rate.

8. South Carolina

South Carolina Credit Score

Average credit score: 663

Foreclosure rate: 1 in 959

Credit card delinquency rate: 1.39%

Unemployment rate: 6.6

Bankruptcy rate: 1 in680.34

The bankruptcy rate is actually pretty low in South Carolina, but it is among the ten worst in every other category.

9. North Carolina

North Carolina Credit Score

Average credit score: 679

Foreclosure rate: 1 in 930

Credit card delinquency rate: 1.40%

Unemployment rate: 5.8

Bankruptcy rate: 1 in 613.26

Credit card delinquencies are the biggest downfall for this state which have also affected the average credit scores for North Carolina.

10. Maryland

Maryland Credit Score

Average credit score: 695

Foreclosure rate: 1 in 531

Credit card delinquency rate: 1.31%

Unemployment rate: 5.2

Bankruptcy rate: 1 in 315.26

This state suffers from the second highest foreclosure rate. The average credit score and bankruptcy rate in Maryland are also major factors that affect the overall credit well being of the "Old Line State".

Progress and regress

While most of the nation has been recovering from the debt crisis in recent years, some states have made more progress than others. Since 2011, the first year of this study, Idaho has made the most progress, rising a total of 27 places from 41st to 14th. Back in 2011, Idaho was clearly worse than the median state in four out of five categories. Now it is clearly better than median in every category except bankruptcies, where is right about in the middle.

Moving the most in the wrong direction since 2011 is Pennsylvania, which has fallen by 19 places from 8th to 27th. The biggest reason for this is that foreclosures are about twice as common in the state now as they were four years ago.

Whether you are an individual looking to relocate or a business deciding where to expand next, knowing which states have the best and worst credit conditions is important. As the degrees of difference between good and bad states show, credit conditions have a way of being somewhat infectious, so you are more likely to thrive where other people are thriving.

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