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  • 1 year ago
Wealth and status doesn’t equal a good credit rating

Wealth and status doesn’t equal a good credit rating

When it comes to being financially savvy, some of Australia’s wealthiest suburbs in major capital cities could learn a thing or two from those living in supposedly less affluent rural and regional areas. National data sourced by from the fourth annual Veda Australian Credit Scorecard, which analysed over two million VedaScores[1] across 326 regions, revealed that your wealth and suburb doesn’t determine the health of your credit score. In New South Wales, the rural areas of Blue Mountains (VedaScore: 791) and Hawkesbury (788) with their beautiful, relaxed lifestyles have a higher average VedaScore than those living the high-life in Sydney Inner City’s (738) harbourside suburbs of Potts Point, Elizabeth Bay and Rushcutters Bay. The surfing culture of the Central Coast also seems to help cultivate some strong credit scores in Newcastle (765) and Gosford (772), which are surprisingly higher than those living with harbour views in Sydney’s centre. “These results demon