Midwestern work ethic is one reason why Minnesota was ranked as having best average credit rating in nation. The consumer and business credit rating agency Experian said in its State of Credit report for 2017 that Minnesotans have the highest credit scores in the country.

Experians annual survey shows that Minnesotans have an average credit score of 709 out of 850, well above the national average of 675. Vermont and New Hampshire trailed Minnesota residents with average scores of 702 and 701 respectively.

It's good to see that our Minnesota nice extends to paying our bills on time, and not maxing out our lines of credit. Minnesotans didn’t earn high marks by merely avoiding credit cards but by making good on payments. According to Experian, Minnesotans have an average of 2.97 cards per person, but had a 0.2 ratio on late payments per billing cycle.

Experian listed a number of factors that contribute toward a Minnesota mind-set of fiscal responsibility. Among them: the state’s healthy, diverse business community, low unemployment and relatively low cost of living.

Our neighbors also ranked in the top 10: South Dakota ranked fourth with an average score of 700; North Dakota, sixth with 697; Wisconsin, seventh with 696; and Iowa, eighth with 695.

Some states that didn't fare as well as us were Mississippi with an average score of 647; Louisiana with 650; and Georgia with 654.