April 18, 2008

How do you recognize a credit-card fueled city with a fake economy full of $30k millionaires? Just look to the credit scores of course


Here's a list of major cities ranked top to bottom by credit score. No surprises.

Want to see a bunch of $30k millionaires faking it on plastic? Head to Dallas, Houston, Phoenix, Atlanta, LA and Miami.

The cruelest reality will be when you have a debt-fueled fake city which also has the misfortune of being a REIC-infested housing crash city.

In other words, look out below in Phoenix and Miami.


Combine REIC layoffs, crashing home prices and a massive credit squeeze, and you'll be seeing "ultra lounges" closing down in droves, and the used car lots filling up with late-model 3-series.

And you know what? That's a good thing. Now who said the housing crash was all bad?

Minneapolis 705
Boston 704
Washington, D.C. 691
Cleveland 689
Seattle 688
New York 686
Philadelphia 686
San Francisco 685
Chicago 679
Sacramento 676
Detroit 675
Denver 674
Tampa 672
Miami 671
Orlando 671
Los Angeles 668
Atlanta 667
Phoenix 657
Houston 652
Dallas 650

41 comments:

Mark in San Diego said...

Hmmmm. . .San Diego/Tijuana didn't seem to make this list?? Must be down in the 500's. . .Actually the people in TJ probably have better credit scores, at least they have a stronger currency - the peso!

Anonymous said...

No way DC has an average FICO that high. Something's fishy with these numbers.

Anonymous said...

I get everything but the two Texas cities. What's wrong in Texas?

Anonymous said...

I used to live in Dallas and worked in property management. We were trained to basically ignore everything on credit reports except if it related to rental history/housing.

The laws in Texas are extremely favorable to debtors and the excess of low scores spawned a vicious cycle. Everyone has crappy credit; ergo, businesses and banks have lowered their lending standards; ergo, the masses have no real incentive to take care of old debts and pay their bills on time.

common sense said...

Too bad Las Vegas wasn't included in the survey. We would have been near the bottom of the FICO list. Forget Scottdale -- we're Poseur Central.

We're No. 1!
We're No. 1!

keith said...

DC is high because I think it's metro area - not city

City of DC is probably 100 at best!

Anonymous said...

This is about as ridiculous of a statement that I think this site has posted. Get a life, move on already.

Bad data boys and girls... said...

Bad data.

Bad article.

Sorry, but true.

mairca izda debol said...

Dallas is full of blacks and Mexicans. I think whites are around 25% of the population these days. Houston is the same way. All of the whites moved to the surburbs due to the influx of illegal immigrants trashing up all the neighborhoods. Houston is actually pretty wealthy with all of the energy industry and commodities trading funds based there. Notice how LA is down in the dumps too. The cities up north with fewer Mexicans have the higher scores.

gutless and lazy is a radical said...

Let me get this straight ... blue state cities top the list. Red state cities are on the bottom. Check, got it.

Anonymous said...

Don't forget that Miami is the place of car leases. Try to sell an used car in Miami...no way! Every low life down there has an upside down lease on a new BMW or SUV. And they drive all day, looking for a scam to make buck.

Thanks Jimmy Carter! Florida is looking better and better after you had to open the gates of hell. Don't forget that Obama is surrounded by a bunch of former Carter geniuses.

Stuck in So Pa said...

FICO's are a long running, useless joke anyway. My credit score is garbage because I refuse to take on debt, yet I have never defaulted on a financial obligation in my life.

Good question Keith, bad answer! There's got to be a more accurate way to gauge a "fake economy."

el dudelero said...

i do see a correlation between bad credit scores and the number of illegal immigrants....

Anonymous said...

Speaking of used car lots.... I think I'm gonna go bottom-feeding to snag up a former realtor's luxury car for 1/2 the new MSRP. Bwahahaha!!!!

Buzz Saw said...

A country that has a credit score as the most important number does not deserve to live.

Anonymous said...

Lots of defensive posters here, huh? This can only mean that their credit scores are rotten. And yes, Fico is a way to gauge the economy. Enjoy paying premium for everything in life with your deplorable low Fico scores.

FicoMan said...

670 isn't exactly a bad credit score. It's in the above average range.

Frank@Scottsdale-Sucks.com said...

"ultra lounges" closing down in droves

That's funny ... since I left Arizona it seems that every bar has been renamed "ultra lounge"

Anonymous said...

from cleveland and am not surprised to see us near the top of the list - most people are fairly frugal and dislike debt, with the exception of the lower income sphere.

Surprisingly "c-town" as it is known, is picking up - a lot of entrepreneurial activity in healthcare and manufacturing has been rebounding - many open positions if you have skills in the right area - weak dollar happening as we're big exporters.

k.w. - southern ca. said...

Credit scores are absolutely worthless now, banks - regardless of your FICO score - just won't lend.

This is going to further damage the housing sector as more and more people are left out of the every shrinking buyer pool.

Anonymous said...

30000 dollar fake ass millionaires??? oh come on keith. i resmemble that remark....ha ha ha

Anonymous said...

Anonymous said...
I get everything but the two Texas cities. What's wrong in Texas?

April 18, 2008 11:57 AM

<<<<

what's wrong with texas? i will tell you. its full of fake ass californians...

Anonymous said...

Anonymous said...
I used to live in Dallas and worked in property management. We were trained to basically ignore everything on credit reports except if it related to rental history/housing.

The laws in Texas are extremely favorable to debtors and the excess of low scores spawned a vicious cycle. Everyone has crappy credit; ergo, businesses and banks have lowered their lending standards; ergo, the masses have no real incentive to take care of old debts and pay their bills on time.

April 18, 2008 12:05 PM

<<<

think so huh? let me tell you something my friend. don't ever underestimate the power of the goon squad when it comes down to it. these credit card banks are the biggest scumbags in the world and they will sue at the drop of a hat and attempt to get blood out of a turnip. you have tons of people walking around with default judgements hanging over their heads. one day, when they start debtor's prison again, there will be many who will be rounded up for their debts owed and they will be held to account for them. this is coming. i mean why else would a bank sue and get what would appear to be a worthless(on its face) default judgement? they are looking to the future. debt slaves we were and debt slaves we will always be because that is the only life we have ever had in these united states of amerika...

Anonymous said...


blue state cities top the list. Red state cities are on the bottom. Check, got it.


What the heck is a state city? Either it's a city or it's a state. Those are cities and all of them have Democrap mayors. Conservatives all live in the surburbs and country. Metrosexuals live in uptown and then you have the ghetto dwellers.

consultant said...

Keith,

You keep delivering the hits!

Atlanta is so screwed. Business leaders have one mindset in this town-build. Build what? Who cares. Build out, up, over here, there, ugly stuff, kinda cool stuff-it's all good. Progress and profits (of course) has kicked everything else to the curb around here. And of course, the REIC infrastructure has taken a huge hit (the one bit of pleasure I take from this entire sh!t hole of a mess meltdown).

I need to send you a picture of this one townhouse development that still has a sign up that says move in for $1.

I'd like to know what that developer is driving now.

mairca izda debol said...


I get everything but the two Texas cities. What's wrong in Texas?


When you look at data, you have to be able to use your brain to break it down. The low IQ people will continue to be spoon fed, just the way they like it. Intelligent people will analyze and dissect the numbers.

Dallas and Houston are full of lowlife illegals. The white people all fled to the surburbs, so they're not counted in the ratings. Detroit and Cleveland can be explained because most of the cities' reseidents have no credit score. They are mostly on welfare. Atlanta is the same. You have businesses based there, but the employees live in the surburbs. Do white people still live in Los Angeles? Mexicans are the majority there too. The only major cities with white majorities are SF, Seattle and Boston.

Anonymous said...

In the recent credit climate, 650 was considered a good score and enabled you to get 100% financing. Hell, we were doing 80/20's all the way down to 620 , competitors were taking as low as 600. Even now, a score of at least 680 is pretty good.

I don't think your correlation is correct. Large metropolitan cities will always have people with more debt. They need to keep up with the Jones'. Smaller towns have less ego and probably an older population who understands that debt is bad.

AF

mairca izda debol said...


debt slaves we were and debt slaves we will always be because that is the only life we have ever had in these united states of amerika...


It's a free country. Don't borrow money you can't repay. I'm not a debt slave because I live within my means. Maybe the debtors prisons will be a good thing. Teach those posers a lesson.

sac'to watcher said...

Sacramento ain't much better than the ones in red and San Fran isn't much better than Sac. Hmm....

Anonymous said...

The only major cities with white majorities are SF, Seattle and Boston.

April 18, 2008 7:55 PM<<

that's true, but most of these white people in these particular cities are gay....

Anonymous said...

Anonymous Anonymous said...

Lots of defensive posters here, huh? This can only mean that their credit scores are rotten. And yes, Fico is a way to gauge the economy. Enjoy paying premium for everything in life with your deplorable low Fico scores.

April 18, 2008 6:24 PM<<<

hey buddy, my fico is sitting at about 550. do you know how long it took me to get it down thatlow? man it took me 3 years of sitting on my ass and living off my credit cards....ha ha ha.....

Anonymous said...

Man, so my 740 FICO score makes one of the biggest d!cks in town.

Anonymous said...

hey buddy, my fico is sitting at about 550.

Your parents must be so proud of you. 550 means that you're a huge risk for anything in life, even to drive or have you as an employee.

Anonymous said...

Here's how a low credit rating can affect you, besides increasing your car insurance premiums:

How bad credit can cost you a job

Many employers -- including the federal government -- routinely scour credit reports on current and prospective employees to help decide who's hired or fired.

There are some indications such credit checks are on the rise. About 35% of the companies surveyed by the Society for Human Resource Management pulled the credit reports of current or potential employees last year, up from 19% in 1996.

After two years of unemployment and three years as a contractor, Richard Becraft was offered a good civil service job with the Department of Defense in May 2002. The position paid $12,000 more than he was currently making and promised the kind of stability Becraft hadnt experienced since defense industry layoffs, a divorce and a subsequent personal bankruptcy rocked his financial world.

After a background check, however, the job offer was rescinded. The government letter that the Oxnard, Calif., man received indicated financial considerations made him a poor security risk.


http://tinyurl.com/5kffsd

Anonymous said...

Speaking for Houston I can tell you that this town saw in influx of idiot yuppies in the past 10 years. Downtown was reinvented because idiot yuppies LOVE to live in lofts surrunded by the ghetto. I can not explain to you why they desire this but maybe they just like to feel superior to everyone near them.

Anyway, the people blaming the illegals are somewhat right but the yuppies and yuppie wannabes are the lion's share of bad debtors. You have shoe salesmen in their 20s buying $25 lunches and driving a new Audi. People who work at grocery stores driving new SUVs and wearing designer clothing is also a factor.

Credit was cheap and easy....and it gt abused. Frankly, I am thrilled my town came in so low. Maybe the idiot yuppies will leave if the local economy grinds to a hault and all of the BS jobs dry up.

Anonymous said...

Texans---
Just give them a enema, and bury them in a shoe box.
With gas prices this high, the women of Texas will have to car pool just to run down their drunk husbands and boyfriends---

Nemoudeis said...

"The only major cities with white majorities are SF, Seattle and Boston."

April 18, 2008 7:55 PM<<

Uhhh, dude ... San Francisco is only 44% "white." So unless you're talking about some secret population of Anglos hiding deep in the sewers, I think your data is a little off.

And Minneapolis-St. Paul, which is at the top of the FICO list (and, incidentally, where Fair Isaac is headquartered), is much "whiter" than Boston, and roughly equal to Seattle.

bankerzSUCK said...

Who elected Fair Issac to the lofty postion of grand financial God? I say hit the legislative buttons and open these assholes up to consumer focused regulation and suits for defamation. And make the credit card companies accountable to the public and cap their rates a federally regulated level like every other Utility, and make them go through a public hearing to increase a rate or fee. The credit company is in expanding the money supply, a privelege that is rightfully reserved and regulated by the Fed's. Regulate them and make them accountable for the social chaos they cause, enabling deadbeats with addictive as crack credit cards at 20% shy lock rates.

Anonymous said...

Your parents must be so proud of you. 550 means that you're a huge risk for anything in life, even to drive or have you as an employee.

April 19, 2008 4:57 AM<<<

hey i am just trying to do my fair share to bankrupt these banks. every little bit helps. it is my gift to them after years of high interest, its the least i can do now. and what a fitting time it is, wouldn't you say? just think about it. soon, the credit card bomb will blow sky high and take with it, many of these bloated credit card banks. as did those who thought that mbs's were a good investment, so to those who bought credit card trust investment tranches. hey i am doing a public service here. i am helping to cause the great credit deflationary spiral and it feels real good too buddy.......ha ha ha...

Idiots Delight said...

Anonymous said...
hey buddy, my fico is sitting at about 550.


When were you released from Prison?

creditscoring.com said...

Those are not FICO scores.