Average Credit Score By State & City 2020

No three digits mean more to the economic trajectory of your life than the numbers that make up your credit score. Ninety percent of lenders factor in your credit score when deciding whether or not to lend money to you. [4] This is the average FICO credit score — how does your score stack up? https://www.bankrate.com/personal-finance/credit/average-fico-credit-score/

Your score, such as the popular FICO® scoring system analyzed here and used by the majority of lenders, affects your ability to secure a place to live, no matter whether you rent or buy. It determines your ability to buy a car and to get loans. Even your ability to buy something as ubiquitous as a cell phone can depend on your credit score.

What’s more, seemingly innocuous and recursive actions, such as even authorizing an inquiry about your credit score, can cause your credit score to change. Even your geographic location can play a role in your credit score. This article will break down the variations in credit scores across the country and look at the factors that affect them.

Key Statistics

  • Residents of Minnesota have the highest average credit score in the United States (733).
  • Residents of Mississippi have the lowest average credit score in the United States (667).
  • In 2018, 42 states raised their average credit scores. From 2018 to 2019, all states had a nominal increase in credit score of anywhere from 1-3 points or stayed even. From 2019 to mid 2020, scores are trending downward, but still remain above 650.
  • 49 states had average credit scores between 670 and 739 (“good”). The District of Columbia, though not technically a state, also fell into this range.
  • 59 percent of Americans have a FICO® score of 700 or higher. [10] Average FICO score hits record high—here’s the average credit score in every state https://www.cnbc.com/select/average-fico-score-hits-record-high-703/
  • In 2019 Boulder, CO became the metro with highest average credit score across its residents.

Contents

Average Credit Score by State - Map [2] Here’s The Average Credit Score By Age In The US https://www.rockethq.com/learn/credit/what-is-the-average-credit-score-by-age

Average Credit Score by State - Table

Source: [2] Here’s The Average Credit Score By Age In The US https://www.rockethq.com/learn/credit/what-is-the-average-credit-score-by-age [5] Average Income by State plus Median, Top 1%, and All Income Percentiles in 2019 https://dqydj.com/average-income-by-state-median-top-percentiles/

State Average Credit Score - 2018 Average Credit Score - 2019 Average Credit Score - 2020 Average Credit Card Balance - 2020 Average Household Income - 2019 Average Individual Income - 2019
StateAlabama Average Credit Score - 2018680 Average Credit Score - 2019680 Average Credit Score - 2020654 Average Credit Card Balance - 2020$5,961 Average Household Income - 2019$70,090.35 Average Individual Income - 2019$50,286.94
StateAlaska Average Credit Score - 2018704 Average Credit Score - 2019707 Average Credit Score - 2020668 Average Credit Card Balance - 2020$8,516 Average Household Income - 2019$91,268.57 Average Individual Income - 2019$55,590.93
StateArizona Average Credit Score - 2018694 Average Credit Score - 2019696 Average Credit Score - 2020669 Average Credit Card Balance - 2020$6,389 Average Household Income - 2019$87,823.18 Average Individual Income - 2019$54,678.99
StateArkansas Average Credit Score - 2018683 Average Credit Score - 2019683 Average Credit Score - 2020657 Average Credit Card Balance - 2020$5,660 Average Household Income - 2019$68,079.14 Average Individual Income - 2019$47,713.22
StateCalifornia Average Credit Score - 2018706 Average Credit Score - 2019708 Average Credit Score - 2020680 Average Credit Card Balance - 2020$6,481 Average Household Income - 2019$102,375.47 Average Individual Income - 2019$62,695.45
StateColorado Average Credit Score - 2018716 Average Credit Score - 2019718 Average Credit Score - 2020688 Average Credit Card Balance - 2020$6,718 Average Household Income - 2019$98,129.07 Average Individual Income - 2019$62,712.11
StateConnecticut Average Credit Score - 2018716 Average Credit Score - 2019717 Average Credit Score - 2020690 Average Credit Card Balance - 2020$7,258 Average Household Income - 2019$103,865.55 Average Individual Income - 2019$69,556.64
StateDistrict of Columbia Average Credit Score - 2018700 Average Credit Score - 2019703 Average Credit Score - 2020670 Average Credit Card Balance - 2020$6,963 Average Household Income - 2019$127,263.58 Average Individual Income - 2019$90,013.72
StateDelaware Average Credit Score - 2018700 Average Credit Score - 2019701 Average Credit Score - 2020672 Average Credit Card Balance - 2020$6,336 Average Household Income - 2019$93,957.11 Average Individual Income - 2019$56,161.81
StateFlorida Average Credit Score - 2018694 Average Credit Score - 2019694 Average Credit Score - 2020668 Average Credit Card Balance - 2020$6,388 Average Household Income - 2019$78,433.46 Average Individual Income - 2019$53,993.12
StateGeorgia Average Credit Score - 2018680 Average Credit Score - 2019682 Average Credit Score - 2020654 Average Credit Card Balance - 2020$6,675 Average Household Income - 2019$79,797.68 Average Individual Income - 2019$54,689.97
StateHawaii Average Credit Score - 2018721 Average Credit Score - 2019723 Average Credit Score - 2020693 Average Credit Card Balance - 2020$6,981 Average Household Income - 2019$108,561.68 Average Individual Income - 2019$61,800.56
StateIdaho Average Credit Score - 2018710 Average Credit Score - 2019711 Average Credit Score - 2020681 Average Credit Card Balance - 2020$5,817 Average Household Income - 2019$77,877.59 Average Individual Income - 2019$48,007.86
StateIllinois Average Credit Score - 2018709 Average Credit Score - 2019709 Average Credit Score - 2020683 Average Credit Card Balance - 2020$6,410 Average Household Income - 2019$97,212.04 Average Individual Income - 2019$61,957.40
StateIndiana Average Credit Score - 2018698 Average Credit Score - 2019699 Average Credit Score - 2020667 Average Credit Card Balance - 2020$5,581 Average Household Income - 2019$78,056.95 Average Individual Income - 2019$50,842.49
StateIowa Average Credit Score - 2018720 Average Credit Score - 2019720 Average Credit Score - 2020695 Average Credit Card Balance - 2020$5,155 Average Household Income - 2019$86,231.80 Average Individual Income - 2019$51,763.54
StateKansas Average Credit Score - 2018711 Average Credit Score - 2019711 Average Credit Score - 2020680 Average Credit Card Balance - 2020$6,082 Average Household Income - 2019$84,168.27 Average Individual Income - 2019$54,065.48
StateKentucky Average Credit Score - 2018691 Average Credit Score - 2019692 Average Credit Score - 2020663 Average Credit Card Balance - 2020$5,555 Average Household Income - 2019$80,547.15 Average Individual Income - 2019$57,752.29
StateLouisiana Average Credit Score - 2018675 Average Credit Score - 2019677 Average Credit Score - 2020650 Average Credit Card Balance - 2020$6,074 Average Household Income - 2019$71,388.37 Average Individual Income - 2019$52,349.35
StateMaine Average Credit Score - 2018712 Average Credit Score - 2019715 Average Credit Score - 2020689 Average Credit Card Balance - 2020$5,784 Average Household Income - 2019$74,331.65 Average Individual Income - 2019$48,797.00
StateMaryland Average Credit Score - 2018701 Average Credit Score - 2019704 Average Credit Score - 2020672 Average Credit Card Balance - 2020$7,043 Average Household Income - 2019$108,787.55 Average Individual Income - 2019$64,840.89
StateMassachusetts Average Credit Score - 2018721 Average Credit Score - 2019723 Average Credit Score - 2020699 Average Credit Card Balance - 2020$6,327 Average Household Income - 2019$117,996.28 Average Individual Income - 2019$72,352.63
StateMichigan Average Credit Score - 2018705 Average Credit Score - 2019706 Average Credit Score - 2020677 Average Credit Card Balance - 2020$5,622 Average Household Income - 2019$82,676.47 Average Individual Income - 2019$54,632.12
StateMinnesota Average Credit Score - 2018732 Average Credit Score - 2019733 Average Credit Score - 2020709 Average Credit Card Balance - 2020$5,911 Average Household Income - 2019$96,785.18 Average Individual Income - 2019$61,072.55
StateMississippi Average Credit Score - 2018666 Average Credit Score - 2019667 Average Credit Score - 2020647 Average Credit Card Balance - 2020$5,421 Average Household Income - 2019$60,922.93 Average Individual Income - 2019$44,913.28
StateMissouri Average Credit Score - 2018700 Average Credit Score - 2019701 Average Credit Score - 2020675 Average Credit Card Balance - 2020$5,897 Average Household Income - 2019$86,397.22 Average Individual Income - 2019$56,185.39
StateMontana Average Credit Score - 2018718 Average Credit Score - 2019720 Average Credit Score - 2020689 Average Credit Card Balance - 2020$5,845 Average Household Income - 2019$74,351.71 Average Individual Income - 2019$48,907.27
StateNebraska Average Credit Score - 2018722 Average Credit Score - 2019723 Average Credit Score - 2020695 Average Credit Card Balance - 2020$5,630 Average Household Income - 2019$89,613.73 Average Individual Income - 2019$55,698.77
StateNevada Average Credit Score - 2018684 Average Credit Score - 2019686 Average Credit Score - 2020655 Average Credit Card Balance - 2020$6,401 Average Household Income - 2019$83,997.52 Average Individual Income - 2019$53,713.09
StateNew Hampshire Average Credit Score - 2018722 Average Credit Score - 2019724 Average Credit Score - 2020701 Average Credit Card Balance - 2020$6,490 Average Household Income - 2019$101,016.39 Average Individual Income - 2019$58,939.52
StateNew Jersey Average Credit Score - 2018713 Average Credit Score - 2019714 Average Credit Score - 2020686 Average Credit Card Balance - 2020$7,151 Average Household Income - 2019$114,160.42 Average Individual Income - 2019$72,209.43
StateNew Mexico Average Credit Score - 2018685 Average Credit Score - 2019686 Average Credit Score - 2020659 Average Credit Card Balance - 2020$6,317 Average Household Income - 2019$75,956.72 Average Individual Income - 2019$53,023.63
StateNew York Average Credit Score - 2018710 Average Credit Score - 2019712 Average Credit Score - 2020688 Average Credit Card Balance - 2020$6,671 Average Household Income - 2019$102,330.23 Average Individual Income - 2019$66,265.72
StateNorth Carolina Average Credit Score - 2018693 Average Credit Score - 2019694 Average Credit Score - 2020686 Average Credit Card Balance - 2020$6,117 Average Household Income - 2019$75,741.17 Average Individual Income - 2019$51,939.19
StateNorth Dakota Average Credit Score - 2018726 Average Credit Score - 2019727 Average Credit Score - 2020697 Average Credit Card Balance - 2020$5,511 Average Household Income - 2019$86,102.51 Average Individual Income - 2019$55,285.00
StateOhio Average Credit Score - 2018704 Average Credit Score - 2019705 Average Credit Score - 2020678 Average Credit Card Balance - 2020$5,843 Average Household Income - 2019$82,985.94 Average Individual Income - 2019$54,406.06
StateOklahoma Average Credit Score - 2018682 Average Credit Score - 2019682 Average Credit Score - 2020656 Average Credit Card Balance - 2020$6,296 Average Household Income - 2019$74,872.16 Average Individual Income - 2019$49,770.21
StateOregon Average Credit Score - 2018716 Average Credit Score - 2019718 Average Credit Score - 2020688 Average Credit Card Balance - 2020$6,012 Average Household Income - 2019$91,458.36 Average Individual Income - 2019$58,556.37
StatePennsylvania Average Credit Score - 2018711 Average Credit Score - 2019713 Average Credit Score - 2020687 Average Credit Card Balance - 2020$6,146 Average Household Income - 2019$88,716.82 Average Individual Income - 2019$57,129.88
StateRhode Island Average Credit Score - 2018710 Average Credit Score - 2019713 Average Credit Score - 2020687 Average Credit Card Balance - 2020$6,375 Average Household Income - 2019$92,008.88 Average Individual Income - 2019$61,366.45
StateSouth Carolina Average Credit Score - 2018680 Average Credit Score - 2019690 Average Credit Score - 2020657 Average Credit Card Balance - 2020$6,157 Average Household Income - 2019$80,500.78 Average Individual Income - 2019$54,595.77
StateSouth Dakota Average Credit Score - 2018727 Average Credit Score - 2019727 Average Credit Score - 2020700 Average Credit Card Balance - 2020$5,692 Average Household Income - 2019$84,257.55 Average Individual Income - 2019$55,242.63
StateTennessee Average Credit Score - 2018689 Average Credit Score - 2019690 Average Credit Score - 2020662 Average Credit Card Balance - 2020$5,975 Average Household Income - 2019$79,019.22 Average Individual Income - 2019$52,518.60
StateTexas Average Credit Score - 2018680 Average Credit Score - 2019680 Average Credit Score - 2020680 Average Credit Card Balance - 2020 Average Household Income - 2019$84,470.84 Average Individual Income - 2019$55,079.66
StateUtah Average Credit Score - 2018714 Average Credit Score - 2019716 Average Credit Score - 2020683 Average Credit Card Balance - 2020$5,960 Average Household Income - 2019$100,221.80 Average Individual Income - 2019$54,636.20
StateVirginia Average Credit Score - 2018725 Average Credit Score - 2019726 Average Credit Score - 2020680 Average Credit Card Balance - 2020$7,161 Average Household Income - 2019$84,281.16 Average Individual Income - 2019$52,407.50
StateVermont Average Credit Score - 2018708 Average Credit Score - 2019709 Average Credit Score - 2020702 Average Credit Card Balance - 2020$5,924 Average Household Income - 2019$105,791.79 Average Individual Income - 2019$68,058.62
StateWashington Average Credit Score - 2018721 Average Credit Score - 2019723 Average Credit Score - 2020693 Average Credit Card Balance - 2020$6,592 Average Household Income - 2019$106,407.57 Average Individual Income - 2019$65,265.92
StateWest Virginia Average Credit Score - 2018686 Average Credit Score - 2019687 Average Credit Score - 2020658 Average Credit Card Balance - 2020$5,547 Average Household Income - 2019$66,563.23 Average Individual Income - 2019$47,398.82
StateWisconsin Average Credit Score - 2018718 Average Credit Score - 2019725 Average Credit Score - 2020696 Average Credit Card Balance - 2020$5,363 Average Household Income - 2019$80,671.17 Average Individual Income - 2019$50,101.16
StateWyoming Average Credit Score - 2018711 Average Credit Score - 2019712 Average Credit Score - 2020678 Average Credit Card Balance - 2020$6,245 Average Household Income - 2019$80,293.39 Average Individual Income - 2019$53,248.20
AVERAGES Average Credit Score - 2018704 Average Credit Score - 2019706 Average Credit Score - 2020678 Average Credit Card Balance - 2020$6,209 Average Household Income - 2019$88,212 Average Household Income - 2019$56,964

Top 50 Metro Areas ranked by FICO score

Source: [3] Experian - 2019 Consumer Credit Review https://www.experian.com/blogs/ask-experian/consumer-credit-review/

Top 50 Metro Areas Ranked by Average FICO® Score
Market 2015 2016 2017 2018 2019
MarketBoulder, CO 2015735 2016737 2017738 2018740 2019743
MarketMadison, WI 2015733 2016735 2017736 2018737 2019740
MarketRochester, MN 2015736 2016739 2017739 2018740 2019740
MarketBismarck, ND 2015735 2016738 2017737 2018739 2019739
MarketCorvallis, OR 2015732 2016736 2017735 2018736 2019738
MarketAppleton, WI 2015726 2016729 2017730 2018730 2019737
MarketSan Jose-Sunnyvale-Santa Clara, CA 2015727 2016731 2017732 2018735 2019737
MarketState College, PA 2015729 2016732 2017733 2018734 2019737
MarketBurlington-South Burlington, VT 2015729 2016731 2017732 2018733 2019735
MarketAmes, IA 2015729 2016732 2017732 2018733 2019734
MarketDubuque, IA 2015730 2016732 2017732 2018734 2019734
MarketIthaca, NY 2015725 2016729 2017731 2018733 2019734
MarketMinneapolis-St. Paul-Bloomington, MN-WI 2015726 2016729 2017730 2018732 2019734
MarketSan Francisco-Oakland-Fremont, CA 2015722 2016726 2017728 2018730 2019733
MarketSan Luis Obispo-Paso Robles, CA 2015724 2016727 2017729 2018731 2019733
MarketSheboygan, WI 2015728 2016731 2017731 2018732 2019733
MarketBarnstable Town, MA 2015726 2016730 2017730 2018731 2019732
MarketLa Crosse, WI-MN 2015725 2016729 2017728 2018731 2019732
MarketSt. Cloud, MN 2015727 2016729 2017730 2018732 2019732
MarketBellingham, WA 2015721 2016725 2017725 2018728 2019731
MarketHolland-Grand Haven, MI 2015723 2016728 2017728 2018730 2019731
MarketCharlottesville, VA 2015722 2016726 2017726 2018728 2019730
MarketGreen Bay, WI 2015722 2016726 2017727 2018728 2019730
MarketIowa City, IA 2015726 2016728 2017727 2018729 2019730
MarketMankato-North Mankato, MN 2015726 2016728 2017729 2018729 2019730
MarketWausau, WI 2015720 2016722 2017727 2018728 2019730
MarketAnn Arbor, MI 2015715 2016722 2017724 2018726 2019729
MarketFargo, ND-MN 2015725 2016727 2017727 2018729 2019729
MarketFort Collins-Loveland, CO 2015721 2016723 2017724 2018726 2019729
MarketSanta Rosa-Petaluma, CA 2015719 2016724 2017725 2018727 2019729
MarketSioux Falls, SD 2015722 2016725 2017726 2018729 2019729
MarketDuluth, MN-WI 2015722 2016724 2017725 2018727 2019728
MarketFond du Lac, WI 2015727 2016728 2017727 2018728 2019728
MarketBoston-Cambridge-Quincy, MA-NH 2015720 2016723 2017724 2018725 2019727
MarketEau Claire, WI 2015717 2016721 2017723 2018725 2019727
MarketGrand Forks, ND-MN 2015720 2016723 2017724 2018726 2019727
MarketHonolulu, HI 2015719 2016722 2017723 2018725 2019727
MarketLancaster, PA 2015719 2016724 2017724 2018725 2019727
MarketLincoln, NE 2015722 2016725 2017724 2018726 2019727
MarketOshkosh-Neenah, WI 2015718 2016720 2017721 2018722 2019727
MarketSanta Cruz-Watsonville, CA 2015716 2016721 2017723 2018725 2019727
MarketSeattle-Tacoma-Bellevue, WA 2015714 2016719 2017721 2018724 2019726
MarketLogan, UT-ID 2015716 2016718 2017721 2018724 2019725
MarketNapa, CA 2015715 2016719 2017721 2018724 2019725
MarketWenatchee, WA 2015717 2016718 2017720 2018724 2019725
MarketBremerton-Silverdale, WA 2015716 2016719 2017721 2018723 2019724
MarketMount Vernon-Anacortes, WA 2015717 2016719 2017719 2018722 2019724
MarketPortland-South Portland-Biddeford, ME 2015714 2016718 2017719 2018720 2019724
MarketBend, OR 2015704 2016710 2017715 2018720 2019723
MarketBridgeport-Stamford-Norwalk, CT 2015717 2016716 2017716 2018722 2019723
MarketPortland-Vancouver-Beaverton, OR-WA 2015710 2016715 2017717 2018720 2019723

The Highest and Lowest Scoring States

States with the Highest Average Credit Score

Minnesota — 709

Vermont — 702

New Hampshire — 701

South Dakota — 700

Massachusetts — 699

States with the Lowest Average Credit Score

Nevada — 655

Alabama — 654

Georgia — 654

Louisiana — 650

Mississippi — 647

The Scores

When individuals get their credit reports from one of the three main rating agencies (Equifax, Experian, and TransUnion), they concentrate mainly on the three-digit number that is the end result. 

However, several factors actually go into calculating a credit score. Moreover, when an institution runs your credit, it will show you one of two possible scores.

The FICO score is a scoring model developed by the Fair Isaac Corporation (hence the initials used in the name). This score is calculated based on your payment history, the amount you owe relative to how much credit you have available, the length of your credit history, any new inquiries made, and the variety of credit that you have. [8] Average Credit Score in America: 2020 Report https://www.fool.com/the-ascent/research/average-credit-score/

Equifax, TransUnion, and Experian got together to develop their own score called the VantageScore, which on the surface seems similar to the FICO score. It uses the same range of 300 to 850, but takes into account additional factors such as the age of individual types of credit in your credit history as well as the percentage of credit limits used. [8] Average Credit Score in America: 2020 Report https://www.fool.com/the-ascent/research/average-credit-score/

The rating agencies can use either model to generate your credit score, but in 2019, Experian switched to using FICO scores. This choice was driven by the fact that though the models are similar, lenders opt for FICO scores in 90 percent of U.S. lending decisions. [10] Average FICO score hits record high—here’s the average credit score in every state https://www.cnbc.com/select/average-fico-score-hits-record-high-703/

Geographically, the states with highest credit scores tend to fall in the midwest and New England. The states with the lowest credit scores tend to fall in the Deep South with an average score of 658 versus a national average of 703.

There are common behaviors that people with high credit scores share: they don’t make late payments, they don’t max out the credit that’s available to them, etc. [9] People in These 9 States Have the Best Credit Scores in the Nation https://www.fool.com/the-ascent/credit-cards/articles/people-9-states-have-best-credit-scores-nation/ But there are other factors that can also affect credit worthiness.

Income instability can dramatically affect a person’s credit. Whether or not a person has money coming in regularly to pay the bills can certainly impact things like delinquencies in credit card and loan payments. Higher unemployment rates and more frequently occurring natural disasters can also have a direct effect on an individual’s need to use credit at higher amounts and increase the risk of delinquencies.

There is a definite correlation between average credit score and average income. While there isn’t a huge discrepancy in credit card balances carried between the five highest-scoring and the five lowest-scoring states, there is a $10,000+ per year gap in individual income, and a still-larger gap in household income.

There is also a correlation between the lowest performing states and the rates of delinquencies for those states. Of the several factors that go into calculating a credit score, the one carrying the most weight is payment history. [7] Experian - Credit Scores Lower in States With High Ratios of Delinquent Accounts https://www.experian.com/blogs/ask-experian/research/credit-scores-lower-in-states-with-high-ratios-of-delinquent-accounts/ Louisiana has the second lowest average credit score and has the highest rate of delinquency. Minnesota has the highest average credit score in the nation and has the lowest rate of delinquency.

State Average Credit Score - 2020 Average Credit Card Balance - 2020 Average Household Income-2019 Average Individual Income - 2019
StateMinnesota Average Credit Score - 2020709 Average Credit Card Balance 2020$5,911 Average Household Income - 2019$96,785.18 Average Individual Income - 2020$61,072.55
StateVermont Average Credit Score - 2020702 Average Credit Card Balance 2020$5,924 Average Household Income - 2019$105,791.79 Average Individual Income - 2020$68,058.62
StateNew Hampshire Average Credit Score - 2020701 Average Credit Card Balance 2020$6,490 Average Household Income - 2019$101,016.39 Average Individual Income - 2020$58,939.52
StateSouth Dakota Average Credit Score - 2020700 Average Credit Card Balance 2020$5,692 Average Household Income - 2019$84,257.55 Average Individual Income - 2020$55,242.63
StateMassachusetts Average Credit Score - 2020699 Average Credit Card Balance 2020$6,327 Average Household Income - 2019$117,996.28 Average Individual Income - 2020$72,352.63
StateNevada Average Credit Score - 2020655 Average Credit Card Balance 2020$6,401 Average Household Income - 2019$83,997.52 Average Individual Income - 2020$53,713.09
StateAlabama Average Credit Score - 2020654 Average Credit Card Balance 2020$5,961 Average Household Income - 2019$70,090.35 Average Individual Income - 2020$50,286.94
StateGeorgia Average Credit Score - 2020654 Average Credit Card Balance 2020$6,675 Average Household Income - 2019$79,797.68 Average Individual Income - 2020$54,689.97
StateLouisiana Average Credit Score - 2020650 Average Credit Card Balance 2020$6,074 Average Household Income - 2019$71,388.37 Average Individual Income - 2020$52,349.35
StateMississippi Average Credit Score - 2020647 Average Credit Card Balance 2020$5,421 Average Household Income - 2019$60,922.93 Average Individual Income - 2020$44,913.28

The difficulty in analyzing data using average income is because high incomes skew the data. Think of the old joke about Bill Gates walking into a bar. When you average it out, everyone in the bar is a millionaire. What further complicates this is the other end of the spectrum—low incomes. 

Individuals with low incomes often do not have enough credit activity and payment history to build a strong credit profile, and thus often aren’t counted. [6] Minnesota Residents Have Highest Average Credit Scores https://www.usnews.com/news/best-states/articles/2019-12-02/minnesota-has-highest-credit-scores About 11 percent of the adult population of the United States has no credit record at all, and 8.3 percent of adults do not have enough of a credit history to generate a score. [8] Average Credit Score in America: 2020 Report https://www.fool.com/the-ascent/research/average-credit-score/

Credit Card Debt

One interesting area to look at is credit card debt. While average credit card balances are rising, Americans seem to be handling it well overall. The average FICO score for consumers with a credit card is 727. 

In 2019, 67 percent of Americans used a credit card regularly. Americans’ average credit card debt in 2019 was $6,194, an increase of 3 percent over the previous year. [3] Experian - 2019 Consumer Credit Review https://www.experian.com/blogs/ask-experian/consumer-credit-review/ States with both the highest and lowest average credit scores have average card balances between $5600 to $6600. However, when you look at income, it appears that the states with higher scores have incomes that can much more easily and quickly pay off those balances.

Even so, data suggests that high levels of credit card debt aren’t the primary causes of poor credit performance. New Jersey, Virginia, Maryland, Hawaii, Connecticut, and New York are among the states with the highest average credit card debt, yet they are all solidly in the middle for credit scores, being neither the best nor the worst. [7] Experian - Credit Scores Lower in States With High Ratios of Delinquent Accounts https://www.experian.com/blogs/ask-experian/research/credit-scores-lower-in-states-with-high-ratios-of-delinquent-accounts/

Credit Utilization

A major correlation between the states with the highest and lowest credit scores is credit utilization, defined as the ratio of the amount of credit you are using compared to your credit limit. [12] What is a Credit Utilization Ratio? https://www.huffpost.com/entry/what-is-a-credit-utilization-ratio_b_59d6cb48e4b0cf2548b335ce For example, if you have a revolving line of unsecured debt (like a credit card) with a limit of $10,000, and you are carrying a balance of $1,000, your credit utilization ratio is 10 percent. 

According to Experian, the utilization rate on revolving credit accounts is lower in the northern part of the United States with higher average credit scores than it is in the southern states with lower average credit scores. [11] This Map Shows The Average Credit Score In Every State https://www.huffpost.com/entry/average-credit-score-by-state-map_l_5ce304c3e4b0877009932a48

Interestingly, one of the plus sides of credit scores taking credit utilization into account is that a credit utilization ratio can be improved much more quickly than other factors such as payment history. If you have a lender using Vantage Scores as part of the credit check, lowering your utilization ratio on revolving debt will definitely work in your favor.

Sources