Does anyone know where I could find a graph/chart that shows the correlation between income and credit scores?

Question

I am well aware that income is not factored into one's credit score. What I am asking about if someone knows of a graph that shows CORRELATION between income and credit score. While there are certainly rich people with poor credit scores and poor people with good credit scores, I think it is pretty obvious that there is at least a little positive correlation between income and credit score as people with lots of money can pay their bills much more easily than people with little money.

Answer 1

There should not be any chart like this.

Income has virtually nothing to do with you credit score.
[edit] Makeup of the credit score

The approximate makeup of the FICO score Fair Isaac discloses to consumersCredit scores are designed to measure the risk of default by taking into account various factors in a person's financial history. Although the exact formulas for calculating credit scores are closely guarded secrets, the Fair Isaac Corporation has disclosed the following components and the approximate weighted contribution of each:

35% — punctuality of payment in the past (only includes payments later than 30 days past due)
30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)
15% — length of credit history
10% — types of credit used (installment, revolving, consumer finance)
10% — recent search for credit and/or amount of credit obtained recently

The above percentages provide very limited guidance in understanding a credit score. For example, the 10% of the score allocated to "types of credit used" is undefined, leaving consumers unaware what type of credit mix to pursue. "Length of credit history" is also a murky concept; it consists of multiple factors — two being the oldest account open and the average length of time an account has been open. Although only 35% is attributed to punctuality, if a consumer is substantially late on numerous accounts, his score will fall far more than 35%. Bankruptcies, foreclosures, and judgments affect scores substantially, but are not included in the somewhat simplistic pie chart provided by Fair Isaac.