Average credit scores in the U.S.: A look at the statistics


According to the VantageScore and FICO score models, the average credit score in the United States is 695 and 714, respectively. It follows that the average American has a solid credit rating.

However, geographic and demographic factors might affect credit score averages. For instance, all other regions of the country have average credit scores around 30 points better than the average credit score in the North, roughly 728. Furthermore, those in their 20s have average credit scores of 679, while those in their 50s have scores that are, on average more than 60 points higher.

It’s crucial to remember that even though there are many distinct kinds of credit ratings, the most often used ones all fall within the 300–850 credit-score range. According to the Consumer Financial Protection Bureau, they are also based on the same data—your credit reports—and frequently provide remarkably similar outcomes. Therefore, as long as the data is consistent, it is irrelevant whether an average credit score is based on the VantageScore or FICO model. After all, there are several “genuine” credit scores.

What Changes Are There in Credit Scores?

The typical FICO score has remained constant. Ethan Dornhelm, vice president of scoring and predictive analytics at FICO, notes that this is the first time since the latter phases of the Great Recession that we haven’t seen an increase in the average score. Of course, everyone wants to get a free credit score every time they request a report.

Early in the pandemic, credit safeguards such as pauses on mortgage and student loan payments protected credit scores, and people with scores between 550 and 599 had the highest rises in scores in 2021 compared to 2020. They gained roughly 20 points on the test.

The numbers are already reverting to pre-pandemic levels as the effects of stimulus and other financial concessions fade. Customers with scores in the 550–599 range had an improvement of 7 points in 2022. Comparable to the rise between April 2019 and April 2020.

More people see their credit scores decline; according to FICO, between April 2021 and April 2022, scores dropped by at least 20 points for nearly 20% of the population who could get a good credit score and not use every app for payday advance as an alternative way of financing the life. This is an improvement above the 17% that had a similar reduction the previous year.

Credit Scores on Average by State

From 681 in Mississippi to 742 in Minnesota, the average credit score varies by state. Additionally, both states constitute a decent representation of their larger territories. Despite a three-point increase since 2020, Minnesota continues to have the highest average credit score in the country at 742. Wisconsin comes in third with an average credit score of 735, while Vermont is second with a score of 736.

On average, the Northeast has the best credit, while the Southwest has the poorest (696). (728). In actuality, seven of the top 10 states in terms of average credit ratings are located in the West, North, or New England. Having said that, every area has at least one state with, generally speaking, good credit for its citizens.

So, while local factors like employment prospects, housing expenses, and other economic considerations undoubtedly have an impact on credit score averages, it is also true that credit scores can increase everywhere.


How Does Credit Score Vary by Age?

Your age does not significantly impact your credit ratings. However, older individuals often have better credit ratings than younger individuals.

Americans 75 and older typically have the greatest FICO ratings of any generation, according to Experian. One explanation is that your credit history contributes to your credit ratings. Additionally, a higher score may be attained with more time spent using credit responsibly.

But in 2022, Millennials and Generation Z had the highest rises in credit scores. Their credit ratings rose by an average of seven points.

How to Raise Your Credit Rating

In 2021, the average FICO Score in the US increased to 714. It marks a four-point improvement from 2020 and the fourth year in a row that scores have risen.

Source: https://infogram.com/average-fico-score-8-2021-1h8n6m3k58mdj4x

An increase in your FICO Score may be advantageous before applying for a new credit line, such as a credit card, mortgage, or personal loan. With a higher score, you might be able to negotiate better conditions and lower interest rates. The following steps will help you raise your FICO Score:

  • Pay off all of your debts promptly. This will ensure a pristine payment history and show lenders that you have a history of appropriate credit management.
  • Debt reduction for credit cards. If you keep your credit card balances low, your credit use ratio will stay healthy.
  • If you really need credit, then only apply. When you apply for credit, your credit report will frequently reflect a hard inquiry. Your credit score may suffer temporarily, and the effect may worsen if you ask for credit regularly. The existing score may be impacted if you take on a lot of new credit and decrease the average age of your credit accounts.
  • If you are familiar with your credit profile, you can better understand what lenders see when they examine your credit report.
  • Look into different scoring methods. It may seem counterintuitive, but it’s possible that you have a low score because of your “thin” credit history. How can you demonstrate to creditors that you’re a responsible borrower if you can’t secure a loan?
  • Finding a provider that aids in raising your score by taking into consideration unconventional payments may make sense. For instance, the free Experian Boost service includes payments for things like rent, electricity, and video streaming services. Cell phone, utility, and internet service bill information is taken into consideration by a comparable, paid service at eCredable Lift, which reports to TransUnion.


It’s crucial to remember that your credit score is something you control; it’s not something that is automatically determined by the state’s economy where you live. Averages are derived by summing all of the values in a dataset, then dividing by the total number of numbers. While most of the results will likely be close to one another, outliers can still emerge.