Repair Your Credit | You Are the Demographic (Pt. 3)

PersonalMoneyStore.com customer income

“Repair Your Credit” with information. Knowing that military loans and installment loans can contribute toward a better financial present (avoiding missed bill payments, etc). CLICK HERE if you missed the last part of this article.

More than half of all traffic to the PersonalMoneyStore.com Web site (56 percent to be exact) earns $60,000 or more per year, which includes an above average index number for users who earn $100,000-plus. Where are the opposition’s claims that online payday loans target the disadvantaged? The $100,000-plus earners constitute 28 percent; 27 percent earn $30,000-$60,000 per year. It seems clear to me that PersonalMoneyStore.com users are individuals who have the income to repay their debts. This does not classify them as “victims” of installment loans.

Their education

Increased earning potential and education typically go hand in hand. Recent U.S. Government studies show a clear correlation between a worker’s level of education and their average pay level. Thus, the higher the level of education consumers who use PersonalMoneyStore.com have attained, the higher their pay level. Quantcast shows that rather than “exploiting the uneducated,” PersonalMoneyStore.com works with a customer base that is 64 percent college graduates and 20 percent graduate students. The latter figure in particular is well above the Internet index average.

Minority Exploitation

You can probably figure out how this one is going to go, but let’s go to the Quantcast tale of the tape. Indeed, collected data fails to support claims that short term loan companies exploit racial minorities. PersonalMoneyStore.com traffic is 82 percent Caucasian and 11 percent African-American, according to Quantcast. Both figures are above the Internet index average, the latter significantly so (142).

Are overstretched families being targeted by quick payday loans?

This is another myth dispelled by Quantcast. A whopping 80 percent of PersonalMoneyStore.com traffic has no children between the ages of 6 and 17. And according to the 2000 Census, the largest percentage of American families were those who were married without children (28.7 percent). Interestingly, this is a trend that has been increasing since the 1970s. All of this suggests that personal loan outlets like PersonalMoneyStore.com and others are not exploiting overstretched families.