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  • The average American has a FICO credit score of 703, according todata from Experian— that’sconsidered ‘good’ by FICO’s ratings.
  • Credit scores are numerical ratings of your borrowing and repayment history, commonly used by banks to determine eligibility for loans and interest rates. 
  • People over 50 have average credit scores higher than the national average. Scores in some states, including Minnesota, North Dakota, and South Dakota, tend to exceed the US average, too. 
  • Get your free credit score with CreditKarma »

The average credit score during the second quarter of 2019 in the US was 703, according to credit reporting company Experian. 

Credit scores, which are like a grade for your borrowing history, fall in a range of 300 to 850. Thehigher your score, the better— people with higher credit scores tend to get better interest rates on loans, have access to credit cards with better perks and lower interest rates, and could evenpay less for insurance.

TheFICOmodel of credit scoring puts credit scores into five categories: 

  • Poor:300-579
  • Fair:580-669
  • Good: 670-739
  • Very good: 740-799
  • Excellent: 800-850

Based on this scoring system, the average American has agood credit score. But, the average credit score is different by demographic.

The average credit score looks very different between age groups. As credit scores are calculated on credit and borrowing history, older people have higher credit scores on average due to a more extensive borrowing history. Here’s how it breaks down by age group, according todata from Experian:

Age groupAverage credit score in 2019 (FICO)
20-29662
30-39673
40-49684
50-59706
60+749

Americans actually have better credit than ever. The average FICO score has increased about 10 points the past seven years. Here’s how it’s risen, according toExperian data:

YearAverage credit score (FICO)
2012693
2013691
2014693
2015695
2016699
2017699
2018701
2019703

Americans have morecredit card debtthan ever before, with a total of 930 billion in the fourth quarter of 2019. But at the same time, credit scores are rising. The periodspanning from June 2009until early 2020  became America’s longest-running period of economic expansion, and broughtlow unemployment rates. This could have contributed to America’s rising credit scores, with more people borrowing money and paying bills on time. 

Incomes and credit scores tend to vary widely across the US, but it doesn’t seem that income and credit score have any correlation. 

The highest-income place in the US is the District of Columbia, where the median household income is $90,695 per year. However, DC residents have an average credit score of 703. The state with the highest average credit score in the US is Minnesota, with an average FICO score of 733. North Dakota and South Dakota trail closely behind, both with average credit score of 727. While Minnesota has a median household income of about $74,000, North and South Dakota have median incomes of about $67,000 and $60,000, respectively. 

Here’s the average credit score across all 50 states and the District of Columbia, according to credit score data fromExperianand median household income data for 2020 fromS&P Global.

Statecredit="" data-sheets-value="{" in="" score="">Average credit score (FICO) in 2019Median household income 
Alabama68052,346
Alaska70778,074
Arizona69662,996
Arkansas68349,381
California70879,353
Colorado71875,052
Connecticut71779,835
Delaware70168,672
District Of Columbia70390,695
Florida69458,586
Georgia68262,156
Hawaii72385,494
Idaho71158,133
Illinois70968,850
Indiana69960,060
Iowa72062,995
Kansas71161,804
Kentucky69252,515
Louisiana67749,028
Maine71561,900
Maryland70487,818
Massachusetts72385,145
Michigan70660,998
Minnesota73374,486
Mississippi66746,995
Missouri70159,024
Montana72057,736
Nebraska72364,785
Nevada68664,279
New Hampshire72481,669
New Jersey71486,883
New Mexico68649,442
New York71271,961
North Carolina69458,349
North Dakota72767,216
Ohio70559,758
Oklahoma68253,608
Oregon71866,842
Pennsylvania71364,654
Rhode Island71369,584
South Carolina68155,993
South Dakota72760,665
Tennessee69056,702
Texas68063,898
Utah71674,713
Vermont72664,823
Virginia70977,431
Washington72378,344
West Virginia68747,725
Wisconsin72565,076
Wyoming71264,968

Credit scores are calculated using information about your borrowing, like the amount of credit you’re currently using, the number and types of accounts you have open, and your repayment history. All of that information is drawn from your credit report, which has a detailed borrowing history.

Everyone has credit scores based on data gathered by the three credit reporting agencies: Experian, Equifax, and TransUnion. There are two methods of calculation, known asFICOand Vantagescore. While each one uses a slightly different calculation, all scores should be similar. 

Your credit score can be found for free online from sites like credit Karma, or even from certain credit card issuers that partner with the agencies to give you one (or more) of your scores.

It’s a good idea tocheck your credit reportregularly, too.Annualcreditreport.com, a site established by the federal Government, will give you access to your report from each of the three agencies once per year. You can check them all at once, or check one every few months to keep a close eye on your credit. It’s not uncommon for a report to contain an error that then affects your score, but it’s up to you to find any such error. If you do find one, you candispute it with the agency.

If you don’t have any credit history, it becomes very difficult to borrow, and to get the best rates, going forward. That’s why some credit card issuers provide specific credit cards meant for people to use temporarily, to build their credit in the first place. You can see our picks forthe best starter credit cards here.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.


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Credit Score
FICO
Experian
S&P Global


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