So here’s an interesting tidbit for you: TransUnion, one of the three major credit reporting bureaus in the U.S., recently performed a study to find out the average credit scores for several U.S. Metro areas and the study revealed that there is significant correlation between the region that somebody lives in and the state of their credit. TransUnion ranked the metropolitan areas with the highest and lowest consumer credit scores in the country, and it is pretty evident based on their data that region does have something to do with score. Crazy, right? Is it that the people who live in certain cities are more financial-conscious, or that the people who live in other areas never check their credit reports? Well, Brian O’Connell of The Street wagers an educated guess. Read on if you’re just a little bit curious about which regions in the U.S. have the highest and lowest credit scores:
“U.S. consumers seem genuinely committed to doing a better job handling their personal finances, but depending on where you are, some are doing a better job than others.
TransUnion, the Chicago-based credit ratings firm, says in a recent survey that 53% of Americans say their main financial resolution for 2013 is to save more money; 49% say they want to cut back on “unnecessary expenses”; and another 42% want to pay down existing debt.”
Click here to read a list of possibilities as to why credit scores are related to region.
Super interesting. But here’s the thing. Regardless of the theories behind why some regions boast better credit scores than others, what it comes down to is personal responsibility on the part of the consumer. Our credit reports belong to each of us, their are ours and ours alone. And we are responsible for checking our reports and working on our financial practices to better our scores. So no matter what town or city you live in, take comfort in knowing that your credit score is not dependent on the rest of the city’s actions–only yours. So make them good!