Credit Score Statistics and Facts - Where Do You Stand?

Credit scores come in a range of 300 to 850. In that vast range you find everyone in the country who has a credit score. Where are you standing with your FICO and VantageScore credit scores these days? We will look at these numbers in this chapter. 

Average FICO Score Statistics

The average FICO score for American consumers is 695 (as of April 2019). This is actually a good credit score. Poor scores are those below 550 with FICO. Nearly 12 percent of Americans possess a credit score that is 549 or lower per FICO. They are the sub prime borrowers. 

Looking at the other end of the range, some US citizen actually possess an over 800 FICO credit score. These fortunate individuals (with an 800 to 850 score) comprise over 20 percent of the population. These are the super prime borrowers. 

It is hard, although not impossible, to have a perfect 850 FICO credit score. This rarest of credit scores belongs to under one percent of the entire population. 

Average VantageScore Statistics

At this same time in 2019, the average American possessed a VantageScore of 673. Millenials (aged 22 to 35) boasted a VantageScore of only 634. The next category of adults aged from 35 to 51 were slightly higher on average with a Gen X VantageScore amounting to 655. Baby Boomers of the 52 to 70 year age group boasted an impressive average 700 VantageScore. The Silent Generation of seniors aged over 70 did the best, holding average VantageScores of 730.

Gender’s Impact Your Credit Score

In a word, yes your gender does impact your credit scores. The reason has nothing to do with secret discrimination though. The Board of Governors of the Federal Reserve conducted a survey analyzing over 10 years of data obtained from TransUnion and Mintel. 

They gathered data on over 4,000 single women and over 3,700 single men aged 21 to 40. Head Economist Geng Li who wrote the report discovered that women had lower credit scores on average than men. The average women’s VantageScore in the 21 to 30 age group was 762 versus the men of the same group’s 768. In the group of from 31 to 40, men boasted 793 to women’s 785. 

Though women boasted fewer credit inquiries and a longer credit history established, the women were also more likely to consistently carry larger amounts of debt leading to higher credit utilization ratios and to fall into late payments and delinquent accounts than the men in either age group. 

The two highest component categories of the scoring models hurt women more than men as a result and led to lower female credit scores in general. Yet it is worth nothing that the disparity was about one percent apart only. 

Overview of Credit Scores by Year, Age, Income, and State

It is good to know where you stand versus your peers in credit scores. I have gathered this information in this final section. Below I compare average credit scores based on year and age, income, and by state.

Average Credit Scores by Year and Age

By age, there is a surprising spread of credit scores. The following table shows the differences in averages:

by ValuePenguin

Average Credit Scores by Income

Credit scores by income varied significantly from the bottom earners to the top ones. The lowest income category with less than 50 percent of the median family income had a 664 score. Moderate income individuals with a from 51 percent to 79 percent of the MFI had 716, a significantly better credit score. 

The middle income group of from 80 percent to 119 percent of the MFI possessed a score of 753. Finally, the top earners with over 120 percent of the MFI counted on an average credit score of 775, per Lending Tree and Value Penguin’s data and graphs.

Average Credit Scores By State

By state, there was a somewhat surprising range of credit scores. This table below shows the distribution of scores per state:

Rank State ø Score ø Cards ø Balance
35 Alaska 668 2.9 $8,515
48 Alabama 654 2.69 $5,961
43 Arkansas 657 2.76 $5,660
34 Arizona 669 3.04 $6,389
24 California 680 3.23 $6,481
15 Colorado 688 3.13 $6,718
12 Connecticut 690 3.23 $7,258
33 District of Columbia 670 2.98 $6,963
31 Delaware 672 3.13 $6,366
35 Florida 668 3.19 $6,388
48 Georgia 654 2.97 $6,675
10 Hawaii 693 3.25 $6,981
8 Iowa 695 2.67 $5,155
23 Idaho 681 2.88 $5,817
21 Illinois 683 3.14 $6,410
37 Indiana 667 2.77 $5,581
24 Kansas 680 2.82 $6,082
39 Kentucky 663 2.78 $5,555
50 Louisiana 650 2.77 $6,074
5 Massachusetts 699 3.21 $6,327
31 Maryland 672 3.16 $7,043
13 Maine 689 2.91 $5,784
29 Michigan 677 2.91 $5,622
1 Minnesota 709 2.97 $5,911
30 Missouri 675 2.91 $5,897
51 Mississippi 647 2.57 $5,421
13 Montana 689 2.87 $5,845
38 North Carolina 666 2.95 $6,117
6 North Dakota 697 2.9 $5,511
8 Nebraska 695 2.83 $5,630
3 New Hampshire 701 3.1 $6,490
20 New Jersey 686 3.49 $7,151
41 New Mexico 659 2.79 $6,317
47 Nevada 655 3.18 $6,401
15 New York 688 3.34 $6,671
27 Ohio 678 3.02 $5,843
45 Oklahoma 656 2.71 $6,296
15 Oregon 688 2.95 $6,012
18 Pennsylvania 687 3.07 $6,146
18 Rhode Island 687 3.26 $6,375
43 South Carolina 657 2.9 $6,157
4 South Dakota 700 2.8 $5,692
40 Tennessee 662 2.77 $5,975
45 Texas 656 3.06 $6,902
21 Utah 683 2.95 $5,960
24 Virginia 680 3.08 $7,161
2 Vermont 702 2.86 $5,924
10 Washington 693 2.99 $6,592
7 Wisconsin 696 2.8 $5,363
42 West Virginia 658 2.76 $5,547
27 Wyoming 678 2.81 $6,245


Average Credit Scores of Home Buyers

The average homebuyer had a high credit score of 728. This was a little bit higher than the national average in general. Of more than 85,000 applicants for mortgages which the Federal Reserve surveyed, only 6.8 percent possessed a score under 620. 

The U.S. Federal Reserve Bank published a credit report on home buyers in 2010. The data considered minority groups versus whites as well. Every group surveyed except for African American consumers possessed credit score averages higher than 700. 

Asian borrowers were the most fortunate, with an average high of 745 in FICO credit scores. Non-hispanic white had 734 average scores. Hispanics had 701 scores on average.

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