What Is the Average Credit Score by State?
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- Credit scores are three-digit numbers that show an important piece of your financial history. Credit scores help lenders decide whether to grant you credit.
- The average credit score in the United States is 698, based on VantageScore® data from February 2021.
- It's a myth that you only have one credit score. In fact, you have many credit scores.
- It's a good idea to check your credit scores regularly.
Credit scores are three-digit numbers that show an important piece of your financial history. Credit scores help lenders decide whether to grant you credit.
Credit scores are calculated based on past financial habits. This includes your payment history on credit accounts, the credit you use compared to total credit available and the length of your credit history. It may also include negative financial events such as a bankruptcy.
How do average credit scores compare state by state?
The average credit score in the United States as of February 2021 is 698 based on the VantageScore 3.0 credit score model. Here are the average credit scores, in every state, plus the U.S. territories of Puerto Rico, Guam and the Virgin Islands.
|District of Columbia||699||Nevada||681|
Why do I have more than one credit score?
It's a myth that you only have one credit score. In fact, you have many credit scores.
There are three nationwide credit reporting agencies (CRAs) — Equifax®, Experian® and TransUnion®. These CRAs use similar but not identical formulas to calculate credit scores. Other credit scoring companies use their own formulas. Credit scoring models generally take the same parts of your borrowing history into account. However, where one model might focus on your payment history, another may focus on your total debts. Differences in focus may result in different credit scores.
What's the difference between a FICO score and a VantageScore?
FICO is a leading analytics company. VantageScore is a collaboration between the three CRAs to provide greater credit score consistency.
FICO scores consider five categories from your credit reports:
- Payment history: 35%
- Amounts owed: 30%
- Length of your credit history: 15%
- New credit accounts: 10%
- Mix of credit used: 10%
VantageScore models use similar categories but rank them by influence:
- Payment history: extremely influential
- Credit utilization: highly influential
- Length of your credit history and your credit mix: highly influential
- Amounts owed: moderately influential
- Recent credit behavior: less influential
- Available credit: less influential
What is a good credit score range?
Credit scores can generally be grouped as follows:
- 800 and above: excellent
- 740 to 799: very good
- 670 to 739: good
- 580 to 669: fair
- 579 and below: poor
Just remember that everyone's financial situation is unique. There's no magic number that will guarantee you better loan rates and terms.
Where can I check my credit scores?
It's a good idea to check your credit scores regularly. You can create a myEquifax™ account at myequifax.com to get six free Equifax credit reports each year. You can also click “Get my free credit score” on your myEquifax dashboard to enroll in Equifax Core Credit™. Equifax Core Credit™ offers you a free monthly Equifax credit report and a free monthly VantageScore® 3.0 credit score, based on Equifax data. You can also get free weekly Equifax credit reports through April 2022 at www.annualcreditreport.com.