The average FICO Score in the U.S. hit a record high of 710 last year, according to Experian’s 2020 Consumer Credit Review. And a majority of states (33) managed to achieve or surpass this record high.
Minnesota residents topped the list for the ninth straight year with an average 739 credit score. Meanwhile, Mississippi residents continued to have the lowest credit score of any state (675) — though that’s an eight-point increase from last year (667).
All states experienced a credit score increase ranging from three to 10 points in 2020. That could be due to more on-time payments and lowered spending during a year of economic uncertainty.
Ahead, we give you a quick overview of what a FICO® Score is and reveal the states with the highest and lowest credit scores (jump to credit score by state if you don't need a refresher).
What is a FICO Score?
A high credit score qualifies you for the best interest rates and terms on everything from credit cards to mortgages. FICO Scores are used in over 90% of U.S. lending decisions, making it a must-know number before applying for any financial product.
FICO Scores are broken up into five categories that help lenders gauge your ability to repay loans.
Here are the credit score ranges for each category:
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Excellent: 800 to 850
Take action: Check your FICO Score for free
What factors matter for a credit score?
The FICO credit scoring model looks at these five key factors and weighs each differently:
- Payment history (35%): Whether you’ve paid past credit accounts on time.
- Amounts owed (30%): The total amount of credit and loans you’re using compared to your total credit limit, also known as your utilization rate.
- Length of credit history (15%): The length of time you’ve had credit.
- New credit (10%): How often you apply for and open new accounts.
- Credit mix (10%): The variety of credit products you have, including credit cards, installment loans, finance company accounts, mortgage loans and so on.
Top 10 states with the highest credit scores
Midwestern states maintained the highest average credit scores for another year, ranging from 17 to 29 points higher than the overall average credit score (710). Here are the top 10 states with the highest credit scores in 2020:
- Minnesota: 739
- Wisconsin: 732
- South Dakota: 731
- Vermont: 731
- North Dakota: 730
- Washington: 730
- Massachusetts: 729
- New Hampshire: 729
- Nebraska: 728
- Hawaii: 727 / Oregon: 729
Top 10 states with the lowest credit scores
Southern states had lower average credit scores than the rest of the country, despite all states experiencing a boost (between 3 and ten points) in credit scores compared to 2019. Here are the top 10 states with the lowest credit scores in 2020:
- Mississippi: 675
- Louisiana: 684
- Alabama: 686
- Texas: 688
- Georgia: 689
- South Carolina: 689
- Arkansas: 690
- Oklahoma: 690
- New Mexico: 694
- Nevada: 695
Average FICO Scores by state in 2020
| State | 2019 | 2020 | Change |
|---|---|---|---|
| Alabama | 680 | 686 | 6 |
| Alaska | 707 | 714 | 7 |
| Arizona | 696 | 706 | 10 |
| Arkansas | 683 | 690 | 7 |
| California | 708 | 716 | 8 |
| Colorado | 718 | 725 | 7 |
| Connecticut | 717 | 723 | 6 |
| Delaware | 701 | 710 | 9 |
| District of Columbia | 703 | 713 | 10 |
| Florida | 694 | 701 | 7 |
| Georgia | 682 | 689 | 7 |
| Hawaii | 723 | 727 | 4 |
| Idaho | 711 | 720 | 9 |
| Illinois | 709 | 716 | 7 |
| Indiana | 699 | 707 | 8 |
| Iowa | 720 | 726 | 6 |
| Kansas | 711 | 717 | 6 |
| Kentucky | 692 | 698 | 6 |
| Louisiana | 677 | 684 | 7 |
| Maine | 715 | 721 | 6 |
| Maryland | 704 | 712 | 8 |
| Massachusetts | 723 | 729 | 6 |
| Michigan | 706 | 714 | 8 |
| Minnesota | 733 | 739 | 6 |
| Mississippi | 667 | 675 | 8 |
| Missouri | 701 | 707 | 6 |
| Montana | 720 | 726 | 6 |
| Nebraska | 723 | 728 | 5 |
| Nevada | 686 | 695 | 9 |
| New Hampshire | 724 | 729 | 5 |
| New Jersey | 714 | 721 | 7 |
| New Mexico | 686 | 694 | 8 |
| New York | 712 | 718 | 6 |
| North Carolina | 694 | 703 | 9 |
| North Dakota | 727 | 730 | 3 |
| Ohio | 705 | 711 | 6 |
| Oklahoma | 682 | 690 | 8 |
| Oregon | 718 | 727 | 9 |
| Pennsylvania | 713 | 720 | 7 |
| Rhode Island | 713 | 719 | 6 |
| South Dakota | 727 | 731 | 4 |
| Tennessee | 690 | 697 | 7 |
| Texas | 680 | 688 | 8 |
| Utah | 716 | 723 | 7 |
| Vermont | 726 | 731 | 5 |
| Virginia | 709 | 717 | 8 |
| Washington | 723 | 730 | 7 |
| West Virginia | 687 | 695 | 8 |
| Wisconsin | 725 | 732 | 7 |
| Wyoming | 712 | 719 | 7 |
Improve your credit with this free feature
Raising your credit score can be done in a number of ways, from reducing spending to paying on time, but there's also an alternative that doesn't require much work on your part:*Experian Boost™. This is a free feature that lets you get credit for positive, on-time utility, telecom and streaming subscription payments. Late payments aren't reported with Experian Boost, though your creditors typically notify the credit bureaus when a payment is late for 30 or more days.
All you need to do is connect your bills, then you'll instantly receive a new FICO® Score provided by Experian. This may reflect an increase, which can help boost your credit score into a higher tier. Take note that this feature only influences your Experian credit report.
Experian Boost™
On Experian's secure site
Cost
Free
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
FICO® Score
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updatedFICO® Score
Learn more about eligible payments and how Experian Boost works.
Read more
Here's how Experian Boost can help raise your credit score for free
6 reasons why your credit scores are different and which one matters most
12 things you may not know affect your credit score
*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
