That said, he notes that it is difficult to pinpoint exactly why, saying that it's likely a mix of the economic environment and cultural norms.
"That, to me, is a telling issue. People may be using their credit cards as a supplement to their income in the South, or are just using them more and carrying a higher balance," Griffin says. Credit utilization, as it's called, is the ratio of money you have on your credit cards to the total amount of credit you have available. And it plays a big factor in calculating credit risk and therefore credit scores.
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