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America, Your Credit Rating Stinks

Unless you live in Silicon Valley or parts of New York and Chicago, in which case congratulations are in order.

They are home to the nation’s credit elite, and they have another thing in common: the tech industry. Certain neighborhoods on the West Coast boast residents with some of the best credit, according to a new report by free credit score site Credit Sesame. Those zip codes include the main stomping grounds of Microsoft, Yahoo!, and Google.

Between the coasts, and certainly away from the tech plutocracy, the story is different. The average score for all U.S. states combined is a lowly 604, considered subprime by many lenders, said Stew Langille, Credit Sesame’s chief strategy officer.

The highest credit score possible is 850, although only a rare few have reached it. Those close to it reside in zip codes of Seattle (Redmond, Wash., to be precise), with an average score of 719 under TransUnion's FICO rival, VantageScore. They also populate parts of Mountain View, Calif., (748) Sunnyvale, Calif., (730) and San Francisco (707).

Other highlights from Credit Sesame's report, gleaned from more than 2.5 million of its 7 million users: