Here’s where Americans have the highest credit scores

FeaturedMoney

Written by:

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.

You can see a line chart demonstrating the national average credit score over time here.

Image Credit: AndreyPopov / iStock.

Be vigilant of your credit

Here's where Americans have the highest credit scores

On the whole, the U.S. 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 to 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 in good standing by being on time and being vigilant.

Image Credit: depositphotos.com.

Does higher education mean higher credit scores?

Here's where Americans have the highest 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 percentage of the adult population in each state with a bachelor’s degree 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, D.C. 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 U.S., and yet its average credit score is 703 — in line with the nation’s average.

Image Credit: DepositPhotos.com.

How is America’s credit?

Here's where Americans have the highest credit scores

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 1/5 (21%) of Americans had a credit score of 300 to 579, or very poor. As of 2019, that number had dropped to just 16%.

Image Credit: 2019 Consumer Credit Review by Experian .

Methodology

Here's where Americans have the highest credit scores

We sourced credit card averages from the 2019 Experian Consumer Credit Review published on 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

Image Credit: depositphotos.com.

Which state has the highest average credit score?

Here's where Americans have the highest credit scores

We’ve made a countdown of the states with the lowest credit score to the highest credit score while listing what their credit scores were in 2018 and 2019.

Image Credit: ” bernardbodo”.

51. Mississippi

Here's where Americans have the highest credit scores

2018: 666

2019: 667

Image Credit: DepositPhotos.com.

50. Louisiana

Here's where Americans have the highest credit scores

2018: 675

2019: 677

Image Credit: DenisTangneyJr.

Tied 48. Texas

Here's where Americans have the highest credit scores

2018: 680

2019: 680

Image Credit: DenisTangneyJr.

Tied 48. Alabama

Here's where Americans have the highest credit scores

2018: 680

2019: 680

Image Credit: Sean Pavone.

47. South Carolina

Here's where Americans have the highest credit scores

2018: 680

2019:  681

Image Credit: SeanPavonePhoto.

Tied 45. Georgia

Here's where Americans have the highest credit scores

2018: 680

2019: 682

Image Credit: SeanPavonePhoto.

Tied 45. Oklahoma

Here's where Americans have the highest credit scores

2018: 682

2019: 682

Image Credit: DepositPhotos.com.

44. Arkansas

Here's where Americans have the highest credit scores

2018: 683

2019: 683

Image Credit: Tara Ballard.

Tied 42. Nevada

Here's where Americans have the highest credit scores

2018: 684

2019: 686

Image Credit: DepositPhotos.com.

Tied 42. New Mexico

Here's where Americans have the highest credit scores

2018: 685

2019: 686

Image Credit: Davel5957.

41. West Virginia

Here's where Americans have the highest credit scores

2018: 686

2019: 687

Image Credit: DepositPhotos.com.

40. Tennessee

Here's where Americans have the highest credit scores

2018: 689

2019: 690

Image Credit: Swarmcatcher.

39. Kentucky

Here's where Americans have the highest credit scores

2018: 691

2019: 692

Image Credit: DepositPhotos.com.

Tied 37. Florida

Here's where Americans have the highest credit scores

2018: 694

2019: 694

Image Credit: DepositPhotos.com.

Tied 37. North Carolina

Here's where Americans have the highest credit scores

2018: 693

2019: 694

Image Credit: DepositPhotos.com.

36. Arizona

Here's where Americans have the highest credit scores

2018: 694

2019: 696

Image Credit: reisegraf.

35. Indiana

Here's where Americans have the highest credit scores

2018: 698

2019: 699

Image Credit: f11photo.

Tied 33. Delaware

Here's where Americans have the highest credit scores

2018: 700

2019: 701

Image Credit: mdgmorris.

Tied 33. Missouri

Here's where Americans have the highest credit scores

2018: 700

2019: 701

Image Credit: DepositPhotos.com.

32. District of Columbia

Here's where Americans have the highest credit scores

2018: 700

2019: 703

Image Credit: dkfielding.

31. Maryland

Here's where Americans have the highest credit scores

2018: 701

2019: 704

Image Credit: DepositPhotos.com.

30. Ohio

Here's where Americans have the highest credit scores

2018: 704

2019: 705

Image Credit: dypics.

29. Michigan

Here's where Americans have the highest credit scores

2018: 705

2019: 706

Image Credit: haveseen.

28. Alaska

Here's where Americans have the highest credit scores

2018: 704

2019: 707

Image Credit: Chilkoot.

27. California

Here's where Americans have the highest credit scores

2018: 706

2019: 708

Image Credit: mlauffen.

Tied 25. Illinois

Here's where Americans have the highest credit scores

2018: 709

2019: 709

Image Credit: ibsky.

Tied 25. Virginia

Here's where Americans have the highest credit scores

2018: 708

2019: 709

Image Credit: tmersh.

Tied 23. Idaho

Here's where Americans have the highest credit scores

2018: 710

2019: 711

Image Credit: shanecotee.

Tied 23. Kansas

Here's where Americans have the highest credit scores

2018: 711

2019: 711

Image Credit: Getty.

Tied 21. New York

Here's where Americans have the highest credit scores

2018: 710

2019: 712

Image Credit: Eloi_Omella.

Tied 21. Wyoming

Here's where Americans have the highest credit scores

2018: 711

2019: 712

Image Credit: AnujSahaiPhotography.

Tied 19. Pennsylvania

Here's where Americans have the highest credit scores

2018: 711

2019: 713

Image Credit: weaver1234.

Tied 19. Rhode Island

Here's where Americans have the highest credit scores

2018: 710

2019: 713

Image Credit: DepositPhotos.com.

18. New Jersey

Here's where Americans have the highest credit scores

2018: 713

2019: 714

Image Credit: DepositPhotos.com.

17. Maine

Here's where Americans have the highest credit scores

2018: 712

2019: 715

Image Credit: DepositPhotos.com.

16. Utah

Here's where Americans have the highest credit scores

2018: 714

2019: 716

Image Credit: ” 4kodiak”.

15. Connecticut

Here's where Americans have the highest credit scores

2018: 716

2019: 717

Image Credit: traveler1116.

Tied 13. Colorado

Here's where Americans have the highest credit scores

2018: 716

2019: 718

Image Credit: DepositPhotos.com.

Tied 13. Oregon

Here's where Americans have the highest credit scores

2018: 716

2019: 718

Image Credit: DepositPhotos.com.

Tied 11. Iowa

Here's where Americans have the highest credit scores

2018: 720

2019: 720

Image Credit: JoeChristensen.

Tied 11. Montana

Here's where Americans have the highest credit scores

2018: 718

2019: 720

Image Credit: David Butler.

Tied 7. Hawaii

Here's where Americans have the highest credit scores

2018: 721

2019: 723

Image Credit: DepositPhotos.com.

Tied 7. Massachusetts

Here's where Americans have the highest credit scores

2018: 721

2019: 723

Image Credit: Rolf_52.

Tied 7. Nebraska

Here's where Americans have the highest credit scores

2018: 722

2019: 723

Image Credit: DepositPhotos.com.

Tied 7. Washington

Here's where Americans have the highest credit scores

2018: 721

2019: 723

Image Credit: 4nadia.

6. New Hampshire

Here's where Americans have the highest credit scores

2018: 722

2019: 724

Image Credit: DenisTangneyJr.

5. Wisconsin

Here's where Americans have the highest credit scores

2018: 718

2019: 725

Image Credit: FierceAbin.

4. Vermont

Here's where Americans have the highest credit scores

2018: 725

2019: 726

Image Credit: ” DonLand”.

Tied 2. North Dakota

Here's where Americans have the highest credit scores

2018: 726

2019: 727

Image Credit: DepositPhotos.com.

Tied 2. South Dakota

Here's where Americans have the highest credit scores

2018: 727

2019: 727

Image Credit: RiverNorthPhotography.

1. Minnsesota

Here's where Americans have the highest credit scores

2018: 732

2019: 733

This article originally appeared on Finder.com and was syndicated by MediaFeed.org.

Image Credit: Jacob Boomsma.

Leave a Reply

Your email address will not be published.