Updated at 1:13 p.m., Thursday, February 15, 2007
Hawai'i, Alaska top states in consumer credit use
Advertiser Staff
Hawai'i and Alaska are the top states in terms of consumers who are using more than 50 percent of their available credit, according to a study by Experian Group Ltd., which provides credit reporting and scores.The company said about 17 percent of the two states' residents use more than half of their available credit. That compares to the national average of 14.3 percent.
"Although credit is convenient, consumers should keep in mind that good credit management means being able to pay on time each month and paying off debt in a reasonable amount of time," said Ty Taylor, president of Experian Consumer Direct in a news release.
"Maxing out credit cards may also have a negative effect on their credit score."
