What is the average credit score in America?

America is currently participating in what is tantamount to a nationwide credit repair, with the average credit score in the United States hitting 703 in 2019, according to Consumer Credit Review by Experian. This is up 2.03% from 2010 when the average credit score in the US was just 689.

• National average credit score - Visual
• National average credit score - Data

How is America’s credit?

The average credit score of 66% of the American population actually falls within the “good” credit category, according to Experian.

The average credit score has risen steadily for the better part of a decade and, along with the growing number of Americans with good credit, the number of Americans with very poor credit is on the way down.

In 2010, roughly one-fifth (21%) of Americans had a credit score of 300 to 579, or very poor. As of 2019, that number has dropped to just 16%.

• Credit score distribution - Visual
• Credit score distribution - Data

Which state has the highest average credit score?

Perhaps we should all follow Minnesota’s North Star — the state has the best credit in the country with an average credit score of 733, a number that’s just shy of jumping from good to very good. Both the Dakotas share second place with an average credit score of 727.

From the looks of the top 10, those from the Midwest are pretty good with their money. Half of the top states with the best average credit are located in America’s heartland: Minnesota, North Dakota, South Dakota, Wisconsin and Nebraska.

As for the state with the worst credit, Mississippi takes the crown with an average score of 667. This gives Mississippi the dubious honor of being the only state with an average score that’s not within the good range (670–739) but rather a rating of fair (580–669) — if only by a whisker.

Dominating the 10 states with the worst average credit score are 8 in the South: Mississippi, Louisiana, Alabama, Texas, South Carolina, Georgia, Oklahoma, Arkansas.

• Credit score distribution - Visual
• Credit score distribution - Data

Does higher education mean higher credit scores?

Education matters, at least in regard to your credit score. We found a moderately positive correlation between a state’s average credit score and the percentage of the adult population in each state with a bachelors or higher. In short, the higher the proportion of a state’s population with a bachelor’s degree or higher, the higher the credit score.

A notable exception is Washington, DC: While not a state, the nation’s capital is home to a far higher percentage of people with a bachelor’s degree when compared to the rest of the US, and yet its average credit score is 703 — in line with the nation’s average.

• Credit score vs. education - Visual
• Credit score vs. education - Data

Be Vigilant of your Credit

On the whole, the US is doing well for itself when it comes to credit. The rising average over the last decade points to not just a growing economy, but a willingness to take on credit and use it responsibly. A majority of the US populace falls into the “Good” credit category, and with that comes access to a variety of credit card resources. Maintaining good credit is the goal. A few simple things to keep in mind are be aware and be proactive. Remember when you apply for a loan or credit card, it gets on your credit report as a hard inquiry and brings down your score. Prove that you are a responsible borrower and keep your credit accounts and good standing by being on time and being vigilant.

• Methodology

  We sourced credit card averages from the 2019 Experian Consumer Credit Review published January 13, 2020. We calculated educational attainment using the Census Bureau’s 2018 American Community Survey 5-Year Estimates.

  We define college education as a bachelor’s degree or higher. Some college education without attaining an associate or bachelor’s degree is not included.

  Credit score ranges are defined as:

  • Very poor — 300–579
  • Fair — 580–669
  • Good — 670–739
  • Very good — 740–799
  • Exceptional — 800–850