Study: Springfield third most debt-savvy city in Mo.

Springfield ranked as the third most debt-savvy city in Missouri on a study released this week by financial data tracking firm SmartAsset.

The study, which examined six Show-Me State cities, equally factored the average credit score, debt, credit utilization and foreclosure rate to determine the most debt-savvy places.

Springfield had an overall score of 59.8 out of 100. According to SmartAsset, the Queen City’s average credit score is 661.8, debt is $27,010 and credit utilization is 29 percent. The study also determined a foreclosure rate of 2.2 percent. The study of 195 cities found a national average credit score of 664.7, according to spokesman Steve Sabato.

The six Missouri cities are:

1. Columbia
    •    Credit score: 678.5
    •    Debt: $27,919
    •    Credit utilization: 27 percent
    •    Foreclosure rate: 2 percent
    •    Overall score: 70.6

2. St. Joseph
    •    Credit score: 669.6
    •    Debt: $26,865
    •    Credit utilization: 26 percent
    •    Foreclosure rate: 2.8 percent
    •    Overall score: 70.1

3. Springfield
    •    Credit score: 661.8
    •    Debt: $27,010
    •    Credit utilization: 29 percent
    •    Foreclosure rate: 2.2 percent
    •    Overall score: 59.8

4. Joplin
    •    Credit score: 650
    •    Debt: $26,585
    •    Credit utilization: 28 percent
    •    Foreclosure rate: 2.3 percent
    •    Overall score: 56.5

5. St. Louis
    •    Credit score: 673
    •    Debt: $28,614
    •    Credit utilization: 28 percent
    •    Foreclosure rate: 3.5 percent
    •    Overall score: 56.5

6. Kansas City
    •    Credit score: 669.9
    •    Debt: $29,211
    •    Credit utilization: 28 percent
    •    Foreclosure rate: 3.1 percent
    •    Overall score: 53.9

Springfield ranked 48th nationwide among the cities examined by SmartAsset.