Poll: Durangoans have decent credit
Animas High students survey 600 residents
By Emery Cowan Herald Staff Writer
Durangoans appear to manage their credit cards better than the rest of the nation, according to a new study coming from an unlikely source: pre-calculus students at Animas High School.
The class found that Durangoans own fewer credit cards per person and almost half have a higher credit score than the national average.
Out of 606 people the students polled, 76 percent had a credit card, compared with the national average of 66 percent and the average number of credit cards owned by locals was 2.15, well below the national average of 3.5.
The high-schoolers decided to poll Durangoans about their credit card scores, usage and debt after a lesson about exponential and logarithmic functions. Credit card debt was a perfect real-life example of those functions, said Jennifer Snead, the class’ instructor.
The Animas High School survey also found that 43 percent of Durangoans have a credit score above 700. The national average is 692.
Just more than half of locals – 54 percent – pay off their balance in full every month, which is the same as nationwide statistics.
More men than women in Durango have been subject to identity theft – 21 percent versus 19 percent – and Durangoans aged 35 to 44 had the highest rate of bankruptcy, a statistic that was in line with the nation.
For a week in mid-December, 10 Animas High School students conducted the survey, hitting locations such as the Durango Public Library, Main Avenue and City Market. The average age of respondents was 42 and the majority were females, students said.
To build the survey, each student chose a national statistic about credit cards and created a question that would produce a similar statistic among Durangoans.
While doing the survey, the class learned the benefits of having a credit card, said student Caleb Darland.
“If you can, it helps your credit score a lot,” Darland said. “Credit is everything.”
Many times, survey takers stopped to share their experiences with credit cards, students said.
It’s better for students to learn about the risks and rewards of credit cards now, before they enter college where they will be bombarded with card offers, Snead said.
“It’s not just a free gift,” she said.
The class’ overall conclusion? Durango may be the worst-dressed city in America, but it has pretty good credit.
