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(CNBC)   Map of highest/lowest avg. credit scores by state shows why the South can't afford to rise again   (cnbc.com) divider line
    More: Murica, Debt, credit rating, credit score, highest average credit score of any state, high employment, Credit, Minnesota's low poverty rate, Credit history  
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4141 clicks; posted to Main » on 23 Nov 2022 at 3:30 AM (7 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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Azz
2022-11-23 3:41:05 AM  
My credit score is 560, but at least my penis is 3.5" of solid dynamite

/hello ladies
 
2022-11-23 3:49:35 AM  
i.imgflip.comView Full Size
 
2022-11-23 3:49:56 AM  
Having the ability to finance something, be it a car, a college education, or an insurrection, isn't the same as having the ability to "afford" it, subby
 
2022-11-23 3:54:02 AM  
So people up north owe more in credit and expect one day it will just be free. Got it
 
2022-11-23 4:13:44 AM  

Feel_the_velvet: Having the ability to finance something, be it a car, a college education, or an insurrection, isn't the same as having the ability to "afford" it, subby


If the credit companies and lenders are doing their job they should be highly correlated.
 
2022-11-23 4:27:54 AM  
Where you live may have an impact on your credit rating.

The article begins with this baseless claim and then never even tries to justify it. It's a classic causation/correlation mistake.
 
2022-11-23 5:38:12 AM  
Fark user imageView Full Size

Mine.
 
2022-11-23 5:43:05 AM  
Yes, I'm from the North. They can't count high enough for my credit score in the south.
 
2022-11-23 5:49:54 AM  

Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it


That's not how credit scores work.  It means the people in the south have more debt that is not being paid off, either because they don't want to, or because they simply can't afford to.  It's the exact opposite of what you said.
 
2022-11-23 5:51:04 AM  
Deep south and mine is 818. Would be much higher but I have added about 320k in debt in the last 18 mos buying some land and a 3rd home. So my debt to income is higher than before. I bet the credit rating is in part higher for some states because the number of people with mortgages etc is lower. People down south tend to have an aversion to rental. Having 100k or more debt on your credit doesnt help much. Same person moving into an apartment would likely have a higher rating than the one that is paying a mortgage.

A friend of mine from Wisconsin lives in a rental and thinks I am crazy for buying a home. He said its just too much debt. But yet he has over 75k in credit card debt lol 75k here will get you a nice 12 to 1800 sq ft home on an acre or 5. And the payment on that mortgage will be about one fourth the same debt on credit cards.

Its like everything else. Each region of the country has its beliefs and reasons and accepted norms. Whats worse a credit score of say 640 and having a house paid off in 12 yrs or having a credit score of 800 and being at the mercy of a crappy landlord?
 
2022-11-23 5:52:09 AM  

vmcore: [Fark user image 850x485]
Mine.


why do you think any of us care?
 
Azz
2022-11-23 5:53:13 AM  

vmcore: [Fark user image image 850x485]
Mine.


Fark user imageView Full Size
 
2022-11-23 5:54:05 AM  
In 2010 at 41 I got my first credit cards. I blew them up for over $20k and didn't pay them back. It was predatory lending, they knew I only had $700 a month income on disability. I needed money to survive and I don't feel bad at all for doing it. I did not declare bankruptcy. I got another credit card a couple of years ago, and now my FICO score is 814, still only having $800 a month income (disability has gone up about $100 since 2010).
 
2022-11-23 5:55:24 AM  

vmcore: [Fark user image 850x485]
Mine.


Yeah but you are banking with BoA. Checkmate.
 
2022-11-23 6:00:53 AM  
TIL Azz and Father Jack are from the South, or something
 
2022-11-23 6:03:25 AM  
Utah is also really bad when it comes to credit scores.  Being an ex-Mormon, and having spent most of my life in the Southeastern United States, this doesn't surprise me.  Both Mormons and Evangelicals run into the same problem with credit.  When you apply for credit, the banks look at your expenses and your income, as well as your credit score, but the one thing they never factor in is how much Mormons and conservative Christians give to their damn churches.  Both groups tend to tithe around 10 percent of their income, as their base level, though the churches always come around asking for additional money so it is much higher than a tenth.

So basically every bank overestimates your buying power by ten percent or more, because you are not telling them about your church tithing, that you will always pay every pay check before you even touch your bills and loans, so they overextend you loans that you can not really afford to pay back.  These religious folk snatch those loans up because it means they get the houses and big trucks that they want, rather than the stuff they can actually afford, and their religious leaders are telling them every Sunday that God is gonna bless them with prosperity for being so faithful in paying the church all that money, so they just know in their little hearts that it is just gonna work out.  Spoiler, it doesn't.

You go into people's homes, and they will have these nice big houses with run down furniture, and trucks in the driveway, whose gas tanks they can not afford to fill.  And whenever they get a little bit of cash that could help them get ahead, the church gets a cut of that, and they spend the rest, because it is the floodgates opening, and they expect more of the same that doesn't come.  Then they get desperate to get ahead so they start "investing" in MLMs, benny babies, crypto, or hoarding stuff in their garage when there is a shortage, because they think they will be able to resell it for more later, spoilers they won't.  And all of these bad investments are made with really bad loans, with really high interest rates, because they don't have a good credit score, but it is okay, Jesus is gonna open up that window and start emptying his bowels on them with blessings, and yes that is a phrase the bible actually uses.
 
2022-11-23 6:08:07 AM  
MI is a respectable 699, and also dead last at 662.  I'm guessing the author needs to proofread their state abbreviations a little closer.
 
2022-11-23 6:14:19 AM  
I could tell you what my credit score is, but I'd just as soon not pique the interest of anyone who'd like to use it for their own purposes.
Cautious or paranoid?
 
2022-11-23 6:42:17 AM  

Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it


That isn't how credit scores work. At all.
 
2022-11-23 6:43:48 AM  

winedrinkingman: Utah is also really bad when it comes to credit scores.  Being an ex-Mormon, and having spent most of my life in the Southeastern United States, this doesn't surprise me.  Both Mormons and Evangelicals run into the same problem with credit.  When you apply for credit, the banks look at your expenses and your income, as well as your credit score, but the one thing they never factor in is how much Mormons and conservative Christians give to their damn churches.  Both groups tend to tithe around 10 percent of their income, as their base level, though the churches always come around asking for additional money so it is much higher than a tenth.

So basically every bank overestimates your buying power by ten percent or more, because you are not telling them about your church tithing, that you will always pay every pay check before you even touch your bills and loans, so they overextend you loans that you can not really afford to pay back.  These religious folk snatch those loans up because it means they get the houses and big trucks that they want, rather than the stuff they can actually afford, and their religious leaders are telling them every Sunday that God is gonna bless them with prosperity for being so faithful in paying the church all that money, so they just know in their little hearts that it is just gonna work out.  Spoiler, it doesn't.

You go into people's homes, and they will have these nice big houses with run down furniture, and trucks in the driveway, whose gas tanks they can not afford to fill.  And whenever they get a little bit of cash that could help them get ahead, the church gets a cut of that, and they spend the rest, because it is the floodgates opening, and they expect more of the same that doesn't come.  Then they get desperate to get ahead so they start "investing" in MLMs, benny babies, crypto, or hoarding stuff in their garage when there is a shortage, because they think they will be able to resell it for more later, spoilers they won't.  And all of these bad investments are made with really bad loans, with really high interest rates, because they don't have a good credit score, but it is okay, Jesus is gonna open up that window and start emptying his bowels on them with blessings, and yes that is a phrase the bible actually uses.


"...to get ahead so they start "investing" in MLMs,..."

To my way of thinking, they already are invested in an MLM tithing an organized religion of that size. They are better run than most countries, but they never have enough money. Tax free, and even the people that fund the place can't get a look at the books.
No wonder politicians campaign from the pulpit every chance they get.
 
2022-11-23 6:44:14 AM  
CSB: the very first time I applied for credit, I was turned down because I learned that I already had bad credit according to the credit bureaus. 

Turns out three delinquent accounts were tied to my name - an unpaid hospital bill for a city I had never been to, an unpaid gas bill for a company that serves an area that I never lived, and a delinquent department store credit card for a chain that didn't exist in my region. Even worse, the department store one wasn't even a correct name match (different middle initial). 

This was back in the 80's, before a lot of the current credit bureau regulations were in effect... it was harder to dispute a record back then. I tried to clear all this up on my own but the bureaus would only budge on the department store record. I had to hire an attorney to write threatening letters to them, then they removed the bad records... for six months, then *all* the bad records came back - even the department store one! Another round of attorney threat letters and they were gone for good. All because one (or several) people with the same name as mine didn't pay their bills.
 
2022-11-23 7:31:01 AM  

vmcore: Yes, I'm from the North. They can't count high enough for my credit score in the south.


i.kym-cdn.comView Full Size
 
2022-11-23 7:33:55 AM  
Fark user imageView Full Size


Fark user imageView Full Size



I'm not sayin....
I'm just sayin...
 
2022-11-23 7:44:56 AM  

winedrinkingman: Utah is also really bad when it comes to credit scores.  Being an ex-Mormon, and having spent most of my life in the Southeastern United States, this doesn't surprise me.  Both Mormons and Evangelicals run into the same problem with credit.  When you apply for credit, the banks look at your expenses and your income, as well as your credit score, but the one thing they never factor in is how much Mormons and conservative Christians give to their damn churches.  Both groups tend to tithe around 10 percent of their income, as their base level, though the churches always come around asking for additional money so it is much higher than a tenth.

So basically every bank overestimates your buying power by ten percent or more, because you are not telling them about your church tithing, that you will always pay every pay check before you even touch your bills and loans, so they overextend you loans that you can not really afford to pay back.  These religious folk snatch those loans up because it means they get the houses and big trucks that they want, rather than the stuff they can actually afford, and their religious leaders are telling them every Sunday that God is gonna bless them with prosperity for being so faithful in paying the church all that money, so they just know in their little hearts that it is just gonna work out.  Spoiler, it doesn't.

You go into people's homes, and they will have these nice big houses with run down furniture, and trucks in the driveway, whose gas tanks they can not afford to fill.  And whenever they get a little bit of cash that could help them get ahead, the church gets a cut of that, and they spend the rest, because it is the floodgates opening, and they expect more of the same that doesn't come.  Then they get desperate to get ahead so they start "investing" in MLMs, benny babies, crypto, or hoarding stuff in their garage when there is a shortage, because they think they will be able to resell it for more later, spoilers they won't.  An ...


The evangelical church I grew up in was always promising a windfall of blessings if you tithed 10% to the church (and even more if you gave on top of that, but 10% of your income as a baseline), however they never really explained how it was going to happen. That's the great thing about God, he works in mysterious (i.e. magical) ways so you don't have to. That money was going to just literally materialize out of thin air even if you were an incompetent dipshiat with a single digits credit score.
 
2022-11-23 7:52:56 AM  

Azz: My credit score is 560, but at least my penis is 3.5" of solid dynamite

/hello ladies


Hey, me too! Good thing some women prefer that width.
 
2022-11-23 8:07:29 AM  
It might as well be a map of where there are worker protections and where they are absent. The places with the lowest average credit scores also tend to be places with the lowest pay, the worst conditions for workers, and the easiest places to fire people without cause.
 
2022-11-23 8:30:29 AM  

Bruscar: It might as well be a map of where there are worker protections and where they are absent. The places with the lowest average credit scores also tend to be places with the lowest pay, the worst conditions for workers, and the easiest places to fire people without cause.


There are a TON more indicators than quality of employment.
 
2022-11-23 8:54:11 AM  

SpectroBoy: [Fark user image 550x422]

[Fark user image 645x418]


I'm not sayin....
I'm just sayin...


The correlation there appears very weak.


This is closer, but only works in the interior - it falls apart on the coasts:

Fark user imageView Full Size


Fark user imageView Full Size


In particular, California stands out as bucking this.  Also, West Virginia and Maryland are completely counter to this correlation.

States where the 20th percentile incomes are highest show some correlation... almost like if the poor aren't so poor, they drag the average down less:

Fark user imageView Full Size


And then there's this: 
nationaldisabilitynavigator.orgView Full Size


Still... nothing seems to correlate that well.
 
2022-11-23 9:00:22 AM  

Al Tsheimers: Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it

That isn't how credit scores work. At all.


A lot of people in here don't know how credit scores work, at all. The article writer doesn't, either, since they seem incredulous about the highest scores not being in the wealthiest states. It's almost as if your income has no bearing on your credit score (because it doesn't). It does affect your ability to obtain a loan, of course, because that's where your DTI comes in- but it doesn't change the FICO score.
 
2022-11-23 9:18:05 AM  
Fark user imageView Full Size


Doesn't explain the Dakotas and Iowa
 
2022-11-23 9:18:23 AM  
They colored Michigan wrong.
 
2022-11-23 9:18:33 AM  

Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it


You.... aren't very well versed in this, are you?
 
2022-11-23 9:19:32 AM  

thrillbilly1967: Deep south and mine is 818. Would be much higher but I have added about 320k in debt in the last 18 mos buying some land and a 3rd home. So my debt to income is higher than before. I bet the credit rating is in part higher for some states because the number of people with mortgages etc is lower. People down south tend to have an aversion to rental. Having 100k or more debt on your credit doesnt help much. Same person moving into an apartment would likely have a higher rating than the one that is paying a mortgage.

A friend of mine from Wisconsin lives in a rental and thinks I am crazy for buying a home. He said its just too much debt. But yet he has over 75k in credit card debt lol 75k here will get you a nice 12 to 1800 sq ft home on an acre or 5. And the payment on that mortgage will be about one fourth the same debt on credit cards.

Its like everything else. Each region of the country has its beliefs and reasons and accepted norms. Whats worse a credit score of say 640 and having a house paid off in 12 yrs or having a credit score of 800 and being at the mercy of a crappy landlord?


I have you farkied as a school bus driver. Didn't think that kind of work paid "third home" money.
 
2022-11-23 9:23:00 AM  

Marksrevenge: thrillbilly1967: Deep south and mine is 818. Would be much higher but I have added about 320k in debt in the last 18 mos buying some land and a 3rd home. So my debt to income is higher than before. I bet the credit rating is in part higher for some states because the number of people with mortgages etc is lower. People down south tend to have an aversion to rental. Having 100k or more debt on your credit doesnt help much. Same person moving into an apartment would likely have a higher rating than the one that is paying a mortgage.

A friend of mine from Wisconsin lives in a rental and thinks I am crazy for buying a home. He said its just too much debt. But yet he has over 75k in credit card debt lol 75k here will get you a nice 12 to 1800 sq ft home on an acre or 5. And the payment on that mortgage will be about one fourth the same debt on credit cards.

Its like everything else. Each region of the country has its beliefs and reasons and accepted norms. Whats worse a credit score of say 640 and having a house paid off in 12 yrs or having a credit score of 800 and being at the mercy of a crappy landlord?

I have you farkied as a school bus driver. Didn't think that kind of work paid "third home" money.


It does if all three homes are buses.

Study it out.
 
2022-11-23 9:23:34 AM  

SpectroBoy: [Fark user image 550x422]

[Fark user image 645x418]


I'm not sayin....
I'm just sayin...



Well darn, as much as I like to act superior so that I may look down my nose at the side I don't agree with.... I don't see much of a correlation really
 
2022-11-23 9:42:31 AM  

Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it


Not quite how credit works, but I bet you get some bites.
 
2022-11-23 9:43:30 AM  

The Dog Ate My Homework: Where you live may have an impact on your credit rating.

The article begins with this baseless claim and then never even tries to justify it. It's a classic causation/correlation mistake.


I mean, if you live in a house that's leveraged to the rafters, it will.

But yeah, geographically? No, that's stupid.
 
2022-11-23 10:17:43 AM  
My credit score took a big hit when some jackass who has the same name I do didn't pay his Comcast bill. Got that fixed, but not until after the insurance company sent a letter stating that my auto premium was being increased based on that "Derogatory Item" (or whatever the hell they called it).
 
2022-11-23 10:17:46 AM  

The Smails Kid: Marksrevenge: thrillbilly1967: Deep south and mine is 818. Would be much higher but I have added about 320k in debt in the last 18 mos buying some land and a 3rd home. So my debt to income is higher than before. I bet the credit rating is in part higher for some states because the number of people with mortgages etc is lower. People down south tend to have an aversion to rental. Having 100k or more debt on your credit doesnt help much. Same person moving into an apartment would likely have a higher rating than the one that is paying a mortgage.

A friend of mine from Wisconsin lives in a rental and thinks I am crazy for buying a home. He said its just too much debt. But yet he has over 75k in credit card debt lol 75k here will get you a nice 12 to 1800 sq ft home on an acre or 5. And the payment on that mortgage will be about one fourth the same debt on credit cards.

Its like everything else. Each region of the country has its beliefs and reasons and accepted norms. Whats worse a credit score of say 640 and having a house paid off in 12 yrs or having a credit score of 800 and being at the mercy of a crappy landlord?

I have you farkied as a school bus driver. Didn't think that kind of work paid "third home" money.

It does if all three homes are buses.

Study it out.


It's Alabama.  How much could a home cost beyond the value of the cars on blocks in the front yard?
 
2022-11-23 10:39:17 AM  

thrillbilly1967: Deep south and mine is 818. Would be much higher but I have added about 320k in debt in the last 18 mos buying some land and a 3rd home. So my debt to income is higher than before. I bet the credit rating is in part higher for some states because the number of people with mortgages etc is lower. People down south tend to have an aversion to rental. Having 100k or more debt on your credit doesnt help much. Same person moving into an apartment would likely have a higher rating than the one that is paying a mortgage.

A friend of mine from Wisconsin lives in a rental and thinks I am crazy for buying a home. He said its just too much debt. But yet he has over 75k in credit card debt lol 75k here will get you a nice 12 to 1800 sq ft home on an acre or 5. And the payment on that mortgage will be about one fourth the same debt on credit cards.

Its like everything else. Each region of the country has its beliefs and reasons and accepted norms. Whats worse a credit score of say 640 and having a house paid off in 12 yrs or having a credit score of 800 and being at the mercy of a crappy landlord?


At sub 4% rates I'll take the 30 year mortgage please.
 
2022-11-23 11:17:26 AM  

asymptonic: They colored Michigan wrong.


No, they abbreviated Mississippi incorrectly
 
2022-11-23 11:38:43 AM  
Fark user imageView Full Size
 
2022-11-23 11:50:13 AM  

vmcore: [Fark user image 850x485]
Mine.



Man I bet that internet victory over the poors tastes SWEEEEEET!
 
2022-11-23 12:05:06 PM  

SpectroBoy: [Fark user image image 550x422]

[Fark user image image 645x418]


I'm not sayin....
I'm just sayin...


Arkansas is a bellwether state? We haven't sent a (D) to DC since 2010. If you're an (R) that can be voted for by the general population, you're guaranteed a 2:1 victory right now. This gerrymandered state is a Trumpist kingdom.
 
2022-11-23 12:53:49 PM  
Remember, in America, you are just one bad cold or flu away from bankruptcy through medical debt.

716 one day, 0 the next.

Credit scores just measure how good you are at treading water. One minimum payment away from being totally broke.
 
2022-11-23 12:58:57 PM  
Once again, Kentucky is right where you'd expect them to be.

My parents lived in Garrard County, about 35 miles south of Lexington.  I think the only family-owned businesses in the county (211 sq. miles) were a lumber mill, a funeral home, and various doctors & lawyers at the county seat.  Almost everyone had to leave the county to find a good-paying job.

I can understand "where you live affecting your credit score" for almost all of rural America.  No opportunities in Appalachia, out west, or down south.  You'll find little islands of prosperity around the state colleges, and those areas tend to vote Dem, while the rest of the state votes GQP.

I'd also believe that the majority of their credit debt is medically-related; doctor visits, cost of meds, etc.  They don't have cash for the out-of-pocket, and no one will see them without paying first, so it goes on a credit card and can't be discharged in a bankruptcy.  But mention the ACA and they start screaming, "SOSHULIZMS!! "  and "I DON'T WANT MuH TAXES TO GO TO THOSE PEOPLE!", even though most pay very little in income tax.
 
2022-11-23 1:32:33 PM  

winedrinkingman: Nhojwolfe: So people up north owe more in credit and expect one day it will just be free. Got it

That's not how credit scores work.  It means the people in the south have more debt that is not being paid off, either because they don't want to, or because they simply can't afford to.  It's the exact opposite of what you said.


Not necessarily people who don't use credit and pay cash have awful credit scores. Doesn't mean they are broke.
 
2022-11-23 1:52:21 PM  

ubermensch: asymptonic: They colored Michigan wrong.

No, they abbreviated Mississippi incorrectly


Sure, MI's average score is pretty low (699). But at least it's better than MI (662).
 
2022-11-23 2:47:08 PM  

2KanZam: vmcore: [Fark user image 850x485]
Mine.


Man I bet that internet victory over the poors tastes SWEEEEEET!


Man I bet you are mad at other people for not paying your bills.

Credit doesn't equal money, clown.
 
Azz
2022-11-23 2:53:59 PM  

vmcore: 2KanZam: vmcore: [Fark user image 850x485]
Mine.


Man I bet that internet victory over the poors tastes SWEEEEEET!

Man I bet you are mad at other people for not paying your bills.

Credit doesn't equal money, clown.


No one likes a showboat. If you did this in real life you'd likely come across someone who would kick you in the nuts.

Stay humble, jackass 😘
 
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