Posted On: May 29, 2008, 9:28 am CDT

Posted By: Mike

What is the average credit score of someone with an income of 20,000? Is it the same as someone one makes 50,000, or how about 100,000?

Some of you might say yes, but I might suggest that it is much easier to manage your finances when you make more money.

I bet the numbers would back me up, but the powers that be wont make them available.

Its an even bigger issue when the bare necessities you need to raise a child are figured in.

If you only have 20,000 to work with, then naturally you will chose to go into debt rather than go without food and gas and clothing for your child.

With someone who only makes around 20,000 they are often not wasting money on big screen tvs and ipods, they are going into debt to pay for basic necessities, especially if they have a family.

Next we need to look at what the average income of a black person is, as compared to a white person. A Google search shows the median income of whites is higher than blacks.

After you look at all these factors, one might determine that credit scoring in insurance will cause minorities to pay more for insurance.

This is just a logical argument. Unfortunately these "studies" often times dont give us all the info we need to work with to make an educated decision.

For example, send me a link that shows the median credit score as it relates to income? You cant find it anywhere.

A more compassionate society might have a problem with this.