
What Is The Average Credit Score In St. Cloud, MN?
When I was in high school I was an avid reader and enjoyed my English classes but I really, really struggled with math. In fact, I never made it out of Algebra after freshman year.
I had great teachers, I had tutors, I studied outside of the classroom but for some reason it just didn't click for me. Maybe I was stubborn, maybe I had a learning disability or maybe both could be true.
By the time I reached junior year I was taking classes like Applied Math. While there was a stigma amongst some of my peers in taking what was considered to be a remedial course, it turned out to be arguably the most beneficial course I have ever taken.
We were taught how to balance a checkbook (yes, I am dating myself), how to calculate a mortgage payment, how to tip at a restaurant and other math-related things I use in my every day life.
Now that I am an adult, it shocks me that this was not a required course for all high schoolers!
The folks at WalletHub recently set out to find out which US cities have the best money management skills.
“Many Americans have unfortunately never been taught good money management skills, but it’s never too late to learn," said WalletHub's Chip Lupo. "Our study found that in the cities where people are best at money management, residents have significantly higher credit scores than average, well into the excellent credit range. This is due to a combination of low debt-to-income ratios, restrained credit utilization, and low rates of late payments and delinquency.”
When it comes to financial literacy, St. Cloud ranked 1,357th out of 2,517 cities surveyed, putting them in the 46th percentile.
St. Cloud residents have a median credit score of 719, while The Villages, Florida has the country's best median credit score at 806.
Edina has the highest median credit score in Minnesota at 780.
Other metrics used by WalletHub included mortgage-debt-to-income ratio (St. Cloud's average is 279%), credit card debt-to-income ratio (4.37%), car loan income-to-debt (33.9%) and average number of late payments (3.11).
Check out the full study below:
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