Credit scores in the richest and poorest parts of town remarkably similar, says survey

The credit score and credit report blog took an in-depth look at the credit scores of the five richest and five poorest neighborhoods by income to find out what separates the swank from the slum. In the same feature it also ranked each state by average credit score, so you can see how you stack up to your neighbors.

One of the first things you'll notice about the richest and poorest neighborhoods is that you have to actually look at the data twice to see where the differences are. While the number of credit accounts and mortgage balances vary greatly, the values of other items such as credit utilization all hover pretty closely at the national average.

The five Richest Neighborhoods in the U.S.
  1. Los Angeles, California 90067 (Century City) - 708
  2. West Atherton, California 94027(San Francisco Bay Area) - 685
  3. Palm Beach, Florida 33480 - 691
  4. Greenwich, Connecticut 06831 - 702
  5. Weston, Massachusetts 02493 (near Boston) - 715

The 5 Poorest Neighborhoods in the U.S.
  1. El Paso, Texas 79901 (Chihuahita area) - 659
  2. Cincinnati, Ohio (English Woods area) -697
  3. Anapra, New Mexico 88063 - 659
  4. St. Louis, Missouri (St. Louis Place area) - 697
  5. San Antonio, Texas 78202 (Harvard Place / Eastlawn area) - 666

Among the most interesting facts found while compiling this survey, according to SpendOnLife? The much-coveted 800 credit score was nowhere to be found. While you'd expect a bigger difference in credit scores between the richest and the poorest, and possibly even an 800 in the richest neighborhood, according to the Wall Street Journal, once you hit the mid 700's, the benefits gained from raising your credit score are "meaningless."

It's easy to see how you stack up against the U.S. average, which is always a welcome pat on the back (or a much-needed kick in the pants) to start getting your act together.How does your 'hood score?

If this is your kick in the pants, sign up for a budgeting program like Quicken Online or Yodlee and read through our Credit section, which will help you understand how credit scores are calculated and whether or not canceling that card will hurt your credit score.

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Do yourself a "HUGE FAVOR" and carefully read this:

The 21st Century Act: Final Amendments to Regulation CC Section:
"Prohibits" reimbursement of Credit, Loan, and Finance Balances to a "Bank Entity" leaving only "Nonbank Consumers" able to receive reimbursement, as specified on Pages 85 and 86.

The 21st Century Act states on pg. 85 and 86 that "Only Nonbank Consumers can suffer losses and File for
Re-credit or Re-claim on any Accounts under the Federal Reserve System" also “Any Second or Third Party Presenters utilizing a Banks Documentation, Contracts and/or Agreements to seek Claims shall be considered to be that Bank under the Rules and Regulations”, the Expanded Definitions also includes Credit Cards and Home Equity Lines of Credit.
Also on Pages 100 and 101 "In any Financial Claims the Indemifying Bank (Parent Bank) must be Identified".

(Left-Click to Search Link)
21st Century Act: Final Amendments to Regulation CC

This Federal Law signed January 1, 2006 makes it "Fraudulent" and therefore "Illegal" for the 3 Major Personal Credit Reporting Agencies: Equifax, Experian, and TrasUnion to allow the Banks and the Banks "Third Party Presenters" to place any claim of "Negative" or "Potentially Negative" Accounts on your Personal Credit Based upon the fact that they have no "Legal Grounds or Claim" to the Money.

This is an "Unfair Practice" that diminishes our Financial ability to support ourselves and adversely affects our ability to gain work in many areas which breaks "Antitrust Laws".

These Rules also back claims of: "Aiding and Abetting" Racketeering and Extortion (of Finance Accounts and Personal Credit Reports), Pandering (of Credit and Loan Accounts, and Conspiracy to wit), Theft, Fraud, Federal Mail Fraud, and Telephone Harassment. Also "Threatening of the U.S. Financial Infrastructure", which is a "Capital Crime".

In order to engage the Federal Trade Commission to act against this injustice we must File many Claims, as these Reports must be Filed by a large number of people in order for the Federal Trade Commission to pursue
"Legal Action".

(Left -Click to engage Email Address)

This is way easier than "Occupying Wall Street"!

March 11 2012 at 6:30 PM Report abuse rate up rate down Reply

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January 12 2012 at 5:34 AM Report abuse rate up rate down Reply