According to a new study, the average person in Kansas City, MO and Kansas City, KS has fair to poor credit.
A study by WalletHub ranked 2,570 cities, all based on the credit scores of the average person living in the areas. KCMO was ranked 1,912th and recorded a credit rating of 650.52. The city finished in the bottom 26% of the study.
Things were much worse at the KCK. He was ranked 2,468th and finished in the bottom 3% of the study. The average credit score at KCK stood at 621.65 which is considered poor by credit score standards.
KCK was the lowest ranked region in all of Missouri and Kansas.
KC Credit Services owner Donna Perkins said the poor rankings in the two Kansas cities could be due to several reasons.
“The lack of financial education, the economy, fewer jobs available,” Perkins explained.
Perkins has been helping people out of bankruptcy and credit problems for at least 20 years. She says most people rely too much on their credit card, which can lead to problems later.
“Instead of planning ahead and handing over cash to buy things, we use credit cards,” she said. “Credit card companies like it, but it’s not good for us.”
Perkins says if someone is having credit problems, they should seek financial help from an expert.
Other areas in Missouri and Kansas did well in the study. Leawood, Kan., finished 16th and in the top 1% nationwide, the highest score for any region in Kansas.
Lee’s Summit, Mo., finished 485th and in the top 20 percent of the study, the highest score for an area on the Missouri side of the Kansas City metro.
To consult the complete list, click on this link.
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Tom Dempsey can be reached at [email protected].
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