What's Your Community's Credit Score?

Is your neighbor's credit score affecting you?   

What does it mean if most of the people in your zip code have bad (credit scores below 600) credit?  Does that determine how you'll be treated in the marketplace?  You bet.  A lot of promotional mailings (coupons, offers) are sent to households based on the what the people in a zip code can buy or like.  Demographics of a zip code include income, age, ethnicity, employment status and how you make your living. The demographics and other stuff like credit scores, drive the decisions of businesses all over the country.

So what! If companies don't send you coupons it doesn't cost you anything.  It's okay with you because you've bought enough stuff as it is, right? 

Wrong! When retailers, recreational companies like movie theaters, skating rinks, restaurants, coffee shops and larger chains look for a place to open they may look right over your zip code.  Why should a company invest in a community that cannot afford to spend money in their business?

Think about it, no businesses, no jobs in your community!  In this time of high gas prices how far do you drive to get to a major grocery store, theater or home improvement store?  Everything you need and want does not come from a dollar store.  Remember when you travel outside of your community to make purchases you are contributing to the growth and success of someone's neighborhood, just not yours.

"Bridging the Gap" is a series that focuses on communities of color.  This is the first of reports on credit worthiness and shows all communities in Chicago and other surrounding areas defined by zip code including racial breakdown in these areas . Check your zip code and see the percentage of households in your community with good credit scores. 

Filed under: Money

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