According to Experian’s recently-assembled “Annual State of Credit Map,” residents of Wisconsin can boast of having the best credit scores. This may be in part because there are few impoverished areas throughout that state. Included in the top ten cities with the best credit scores are, according to Experian:Green Bay, Wausau, La Crosse, and Madison, Wisconsin. The majority of those creditworthy cities share similar characteristics — they seem to host a homogenous population, socially and culturally. These areas also tend to have relatively low unemployment.
Among the cities with some of the worst credit scores are four of the poorest cities in the entire state of Texas. These are El Paso, Harlingen, Corpus Christie, and Tyler. All four of those are border towns which are populated by a large concentration of immigrants. Some of the other cities at the low end of the credit spectrum are Jackson, Mississippi, Monroe and Shreveport, Louisiana, and Las Vegas, Nevada.
The data released by Experian, one of the nation’s three biggest credit rating bureaus, provide a set of statistics that indicate that there has been little to no change in recent years of which regions in America suffer the most poverty, unemployment, collapsed housing prices, and the lowest amount of formal education. Essentially, any decent demographer should have no difficulty in pointing out those areas on a map of the country.
What efforts have been applied to those regions in the way of government programs or social services have done little to affect positive changes in those regions. These particular cities cannot be held in comparison to any sort of national median because they are anomalous — in some cases, even within their own states.
The adage “it takes credit to get credit” seems to hold true given Experian’s findings — from the poorest sections of Louisiana, to the most opulent areas of Wisconsin. Credit scores are sub-par in Mississippi and Texas, because there are few jobs to be had in those places. Residents have fewer educational opportunities, due to an inability to afford schooling. There is a scarcity of government programs established to provide adequate assistance for the geographic areas within America that are experiencing the most trouble.