States With the Best and Worst Credit Scores (2024)

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  • The average FICO credit score is 717, and the average VantageScore credit score is 701.
  • Minnesota has the highest average FICO credit score, with an average FICO score of 726.
  • Mississippi has the lowest average FICO credit score, with an average FICO score of 673.

The average FICO credit score in right now is 717 and the average VantageScore credit score as of March 2024 was 701. However, average credit scores vary widely based on a number of factors, including age, income, immigration status, health, and race.

Average credit scores also vary significantly based on location. The average Minnesota resident has a 726 FICO credit score, the highest average of any state. Meanwhile, the state with the lowest average FICO credit score is Mississippi, at 673.

10 states with the highest average credit score

According to data gathered by Experian, the 10 states with the highest average credit scores in the third quarter of 2023 are as follows:

StatesAverage FICO score (2024)
1. Minnesota726
2. Vermont721
3. Wisconsin718
4. New Hampshire724
5. Washington719
6. South Dakota718
7. North Dakota718
8. Hawaii716
9. Massachusetts719
10. Montana716
11. Oregon715

The highest average VantageScore credit scores as of October 2023 are as follows:

StatesAverage VantageScore 4.0 score (2024)
1. Minnesota727
2. New Hampshire725
3. Vermont722
4. Washington722
5. Massachusetts720
6. Wisconsin720
7. South Dakota718
8. Colorado718
9. Hawaii718
10. Montana718

10 states with the lowest average credit score

Credit scores have improved over the past couple of decades. In 2012, the average FICO credit score was 689 compared to 718 in 2023. Yet some states continue to lag behind the national average. The 10 states with the lowest average credit scores in 2024 are as follows:

StatesAverage FICO score (2024)
41. Nevada688
42. New Mexico690
43. South Carolina688
44. Arkansas681
45. Oklahoma682
46. Georgia683
47. Texas681
48. Alabama680
49. Louisiana677
50. Mississippi673

It's worth noting that of these 10 states, all but one are located in the South, defined by the US Census Bureau. However, even at the bottom of this list, the average resident in all these states would have a "prime" credit score, above 660. Average credit scores were not always what they are today. The average FICO score in October 2005 was 688 and has steadily risen over the past two decades.

You'd also think that the states with the lowest credit scores would have the most debt, though this isn't the case. In fact, Mississippi has the lowest average credit card debt and the second lowest average debt among all states.

The 10 states with the lowest average VantageScore credit scores show a similar pattern, predominantly comprised of southern states.

StatesAverage VantageScore 4.0 score (2024)
41. South Carolina687
42. West Virginia686
43. Kentucky686
44. Georgia681
45. Arkansas680
46. Texas680
47. Oklahoma680
48. Alabama678
49. Louisiana674
50. Mississippi668

How credit scores are categorized

The range of possible credit scores spans from 300 to 850, which FICO categorizes into five levels called risk categories. While lending decisions aren't solely determined by your credit score or which risk category you fall into, these help gauge how likely you are to qualify for a loan or credit card.

The five risk categories and their corresponding ranges are:

FICO risk categoryFICO score range
Excellent800-850
Very Good740-799
Good670-739
Fair580-669
Poor300-579

Looking at this spread, the average credit score of 49 states are good credit scores. Minnesota, with a 742 average score, is the only exception, nudging its way into a "very good" average score.

How do you raise your credit score?

Improving your credit score isn't a matter of eliminating negative information from your credit report, but building positive information on top of your negative information.

You should prioritize making payments on your current lines of credit on time and make sure your overall balance isn't too high. If your minimum payments are posing a problem each month, consider consulting with a credit counselor and signing up for a debt management plan.

The best debt management servicescan negotiate a lower interest rate with your creditors or lower your minimum payments in exchange for longer payment periods.

You can also look into credit-building products such as credit builder loans. These will add payment history to your credit reports and accept your application without a credit check. Rent reporting services will also help you build your payment history by reporting any rent payments you make to the credit bureaus, which doesn't automatically happen. You can find our guides on the best credit builder loans and best rent reporting services here.

Keeping tabs on your credit score is a good habit to get into, so you'll know your financial standing in the eyes of creditors at any given point. Until the end of 2023, you can request weekly free credit reports from AnnualCreditReport.com. After 2023, you can request three free credit reports annually, one from each of the credit bureaus.

You can also check your credit scorewith a credit monitoring service. Some of the best credit monitoring services are even free.

Average credit scores by state frequently asked questions

Do you need to have a perfect credit score?

While a perfect 850 score may seem ideal, it probably won't get you more than bragging rights. Those with credit scores above 700 typically qualify for the best interest rates and lending terms. Having a high score can help you save money in the long run because it shows lenders that you are a responsible borrower, so they're more likely to give you the most favorable interest rates on various financial products.

Why are credit scores worse in the South?

Credit scores across southern states are the result of medical debt, according to an analysis from The Washington Post. On average, residents in these states have higher medical debts than residents in other states, which the analysis attributes to whether or not those stated expanded Medicaid. While medical debt has been deprioritized in FICO score calculations and nixed entirely on VantageScore calculations, the financial effect is still significant enough to bring down credit scores in the South.

Does bad credit follow you to another state?

Yes, bad credit will follow you from state to state. Your credit score does not change depending on where you live in the US.

What state has the lowest average credit score?

Mississippi had the lowest average FICO credit score of all states in 2023, at 680 is 38 points below the national average. Mississippi also had the lowest average credit score in 2018, at 666.

Jennifer Streaks

Senior Personal Finance Reporter and Spokesperson

Jennifer is a Senior Personal Finance Reporter and Spokesperson for the Personal Finance vertical at Business Insider. She started her career covering personal finance at Black Enterprise Magazine, went on to CNBC where she covered personal finance, women and money and tech and then Forbes, where she reported on personal finance, business, tech and money matters related to the economy, investing, credit and entrepreneurship. Jennifer is also the author of Thrive!...Affordably: Your Month to Month Guide to living your Best Life without breaking the bank. The book offers advice, tips and financial management lessons geared towards helping the reader highlight strengths, identify missteps and take control of their finances. In addition, she has extensive experience as an on-air financial commentator and has been a featured expert discussing credit and savings, investing and retirement, mortgages and all things money and personal finance. She has an ability to discuss and simplify complex financial issues and make them easier to understand. Follow her on Twitter @jstreaks.

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States With the Best and Worst Credit Scores (2024)

FAQs

What state has the best and worst credit rating? ›

Minnesota has the highest average FICO credit score, with an average FICO score of 742. Mississippi has the lowest average FICO credit score, with an average FICO score of 680.

What states have the best credit scores? ›

Average credit scores by state in 2021

Minnesota had the highest credit score in the country as of 2021, the latest state data available from Experian, with an average score of 742. Minnesota is the only state in the country with an average credit score above 740.

How rare is an 800 credit score? ›

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

What 3 states have the highest percent of their credit economy with prime credit scores? ›

The WalletHub survey is a comprehensive report on the states with the highest and lowest credit scores based on TransUnion data. Minnesota, New Hampshire, Vermont, Massachusetts, and Wisconsin lead the states with the highest credit scores nationwide.

What is the biggest killer of credit scores? ›

1. Payment History: 35% Your payment history carries the most weight in factors that affect your credit score, because it reveals whether you have a history of repaying funds that are loaned to you.

What are the top 3 credit places? ›

Equifax, Experian, and TransUnion are the top three credit bureaus in the U.S. They are private businesses that collect and sell data on the spending and borrowing habits of individual consumers.

What is the toughest credit score? ›

What's the Range of Lowest to Highest Credit Score?
  • Exceptional Credit: 800 to 850.
  • Very Good Credit: 740 to 799.
  • Good Credit: 670 to 739.
  • Fair Credit: 580 to 669.
  • Poor Credit: Under 580.
Feb 24, 2024

What is America's average credit score? ›

What is the average credit score? The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850.

Does anyone have a 300 credit score? ›

16% of all consumers have FICO® Scores in the Very Poor range (300-579).

Is a 900 credit score possible? ›

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

What is a good credit score for a 25 year old? ›

Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

Is there a difference between a 750 and 800 credit score? ›

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

What credit score is needed to buy a house? ›

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

What is the average credit score for a 40 year old? ›

Average credit score for people in their 40s

For those in the 40 to 49 age group, the average credit score is about 684.

What FICO Score is prime? ›

Subprime (credit scores of 580-619) Near-prime (credit scores of 620-659) Prime (credit scores of 660-719) Super-prime (credit scores of 720 or above)

What is the lowest credit score in USA? ›

What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score. But it's important to note that you typically have more than one credit score. And they may differ depending on the credit-scoring company and when they were calculated.

What is the highest and lowest credit rating? ›

Credit Ratings Scale
Credit Ratings Scale: Highest to Lowest
AAAAaaAAA
AAAaAA
AAA
BBBBaaBBB
8 more rows

What is the best credit rating in USA? ›

For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO® Score in the U.S. reached 715.

What is the poorest credit score? ›

Well, there are several credit score ranges. For instance, 780–850 may be considered "excellent" while 720–780 may be seen as "good." But when it comes to a range that may be seen as bad, a score between 300 (the lowest) and 660 fits into the “poor” category.

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