Normal credit score ranges9/9/2023 ![]() ![]() For example, the chart below illustrates different credit profile dynamics for the top ten states with the highest average FICO® Scores compared to the national view. On average, residents in these states are likely to have fewer missed payments, are less likely to be seeking credit, and have lower revolving utilization, which are behaviors that reflect positively on a FICO® Score. Minnesota, South Dakota and North Dakota are almost 30 points higher than the national average, coming in at 734, 731 and 730. While 31 states (and the District of Columbia) have an average score higher than the national average of 706, we generally see that the Midwest and New England states have the highest average FICO® Scores. Not that this is a competition per se, but some noteworthy FICO® Score-related findings may give you some “credit bragging rights” depending on which state or city you live. cities compare? Which state residents carry the most credit balances? Which major city residents are applying for credit most frequently? So, while the average FICO® Score is increasing over time at the national level, what about at the state or city level? Which states have seen the biggest increase over time? How do major U.S. Whatever the reasons, having a higher FICO® Score helps individuals gain access to more credit options at more affordable rates¾potentially saving them thousands of dollars in interest charges. In addition, The Fed has highlighted that consumer credit scores in the lower score ranges may have benefitted over the past several years from efforts by the credit reporting agencies to refine collection reporting practices on consumer files.Īnother theory is that people’s exposure to their credit reports and FICO® Scores, like seeing their updated FICO® Score on their monthly credit card statements, may have increased awareness and resulted in more prudent management of their personal finances. One driver of this observation is likely the FCRA-mandated seven-year purge rule for negative information, which means that missed payments reported in the 2007-2009 period (epicenter of the recession) have been dropping off of people’s credit reports. In general, we are seeing a decrease in negative information on credit reports in these more recent time periods, which may be one factor contributing to the increasing average scores. There are many factors which may be contributing to this. population has been gradually increasing since coming out of the “great recession” of the mid to late 2000’s. Telecommunications, Media and EntertainmentįICO research points to a trend indicating that the average FICO® Score on the U.S.Scoring Products FICO® Member Score FICO® Resilience Index FICO® Safe Driving Score FICO® Score Open Access FICO® Score X Data FICO® Score XD FICO® Score for International Markets FICO® Score UltraFICO® Score.Customer Lifecycle Products FICO® Advisors FICO® Blaze Advisor® FICO® Business Outcome Simulator FICO® Card Alert Service FICO® Customer Analytics FICO® Customer Communication Services FICO® Falcon® Compromise Manager FICO® Falcon® Fraud Manager FICO® Forecaster FICO® Small Business Scoring Service℠ FICO® TRIAD® Customer Manager FICO® Xpress.Customer Communications for Customer Management.Customer Communications for Collections.Consortium Scores for Account Management. ![]()
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