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Credit Score Statistics

CH-Statistic-Average-Credit-ScoresCredit scores are one of the most important and least understood areas of personal finance.  Your credit standing impacts your ability to obtain a credit card or loan, rent an apartment, lease a car, or even land certain jobs.  It also affects the insurance premiums and interest rates that you pay.

That’s why everyone wants to know what their credit score is and how it stacks up to that of other consumers.  Complicating the matter, however, is the fact that there are more than 1,000 different types of credit scores, many of which use different ranges of potential scores.  What’s more, financial institutions and other decision-makers tend to consider one’s credit history and disposable income, along with various propriety metrics, rather than simply basing their decisions on credit scores alone.

With that said, the statistics below will give you a sense of how consumer credit scores have changed over time as well as how credit scores differ across various demographics.

FICO Score Distribution by Percentage of Population

FICO Score 2005 2006 2007 2008 2009 2010 2011 2012
300-499 6.6% 6.5% 7.1% 7.2% 7.4% 6.9% 6.2% 6.0%
500-549 8.0% 8.0% 8.0% 8.2% 8.7% 9.0% 8.7% 8.5%
550-599 9.0% 8.8% 8.7% 8.7% 9.1% 9.6% 9.8% 9.9%
600-649 10.2% 10.2% 9.7% 9.6% 9.5% 9.5% 10.0% 10.1%
650-699 12.8% 12.5% 12.1% 12% 11.9% 11.9% 12.1% 12.2%
700-749 16.4% 16.3% 16.2% 16% 15.9% 15.7% 15.5% 16.2%
750-799 20.1% 19.8% 19.8% 19.6% 19.4% 19.5% 19.4% 18.8%
800-850 16.9% 17.9% 18.4% 18.7% 18.2% 17.9% 18.3% 18.4%
Total 100% 100% 100% 100% 100% 100% 100% 100%
(Source: FICO)
FICO Score Distribution by Percentage of Population

Average Experian Vantage Credit Score By State

According to Experian, the national Vantage credit scores has dropped from 750 in 2012 to 681 in 2013. Below are the average Vantage scores by state

Rank State Average Credit Score Rank State Average Credit Score
1 Alaska 600.0 27 Colorado 684.3
2 Mississippi 646.8 28 Idaho 684.3
3 Louisiana 654.8 29 Wyoming 685.0
4 Nevada 655.5 30 Kansas 687.5
5 Georgia 656.8 31 Utah 688.0
6 California 658.0 32 Oregon 688.3
7 Texas 658.1 33 Washington 690.3
8 South Carolina 660.2 34 Washington, D.C. 691.0
9 Alabama 661.0 35 New York 691.4
10 Oklahoma 663.0 36 Michigan 691.9
11 New Mexico 667.0 37 Pennsylvania 693.4
12 Arkansas 667.3 38 Rhode Island 694.5
13 Tennessee 667.5 39 Illinois 695.0
14 Florida 669.2 40 Connecticut 697.0
15 North Carolina 671.0 41 Maine 697.3
16 Kentucky 673.7 42 Hawaii 698.0
17 West Virginia 674.3 43 Massachusetts 698.5
18 Arizona 675.5 44 Montana 700.4
19 Delaware 677.0 45 Iowa 701.3
20 Maryland 678.0 46 Nebraska 702.0
21 Virginia 679.0 47 New Jersey 703.0
22 Ohio 680.0 48 South Dakota 707.0
23 New Hampshire* 681.0 49 North Dakota 708.0
24 Vermont* 681.0 50 Minnesota 713.0
25 Indiana 681.6 51 Wisconsin 724.9
26 Missouri 681.8 52 National average: 681.1
* Assumption based on the National average
(Source: Experian National Score Index, 2013)

2013 State with the Highest Average Credit Score: Wisconsin – 725

2013 State with the Lowest Average Credit Score: Alaska – 600

Equifax Quarterly Consumer Credit Score Distribution*

Year & Quarter Average 1st Quartile 2nd Quartile 3rd Quartile
99:Q1 679.9 608 697 766
99:Q2 679.4 609 695 763
99:Q3 683.1 612 700 768
99:Q4 683.3 610 701 770
00:Q1 682.4 608 701 771
00:Q2 682.8 608 701 772
00:Q3 681.9 608 702 771
00:Q4 683.7 610 704 773
01:Q1 681.4 607 702 772
01:Q2 681.1 607 702 771
01:Q3 680.6 607 702 771
01:Q4 679.9 605 702 771
02:Q1 679.8 605 702 772
02:Q2 680.6 605 703 772
02:Q3 680.2 605 703 772
02:Q4 679.9 605 702 771
03:Q1 680.8 605 703 772
03:Q2 682.4 607 704 773
03:Q3 682.5 607 704 773
03:Q4 682.3 606 703 772
04:Q1 682.5 606 703 773
04:Q2 683.5 607 704 773
04:Q3 684.2 607 704 774
04:Q4 685.1 607 706 776
05:Q1 686.8 608 707 778
05:Q2 688.4 610 708 779
05:Q3 688.1 609 708 779
05:Q4 687.8 609 708 779
06:Q1 688.8 610 709 780
06:Q2 689.3 610 710 781
06:Q3 688.6 609 710 781
06:Q4 688.2 609 710 780
07:Q1 689.0 610 710 781
07:Q2 689.5 610 712 783
07:Q3 688.9 609 712 784
07:Q4 688.0 608 712 784
08:Q1 689.1 608 713 785
08:Q2 690.3 609 715 787
08:Q3 690.2 609 714 787
08:Q4 689.4 607 713 787
09:Q1 690.8 608 715 790
09:Q2 691.3 609 715 789
09:Q3 690.9 608 714 788
09:Q4 690.0 608 713 788
10:Q1 691.7 609 714 789
10:Q2 692.5 610 714 788
10:Q3 692.3 610 713 788
10:Q4 692.5 612 712 787
11:Q1 694.2 613 713 789
11:Q2 695 614 713 788
11:Q3 694 614 713 789
11:Q4 694 614 712 789
* The Equifax credit score is different from the FICO® score that most lenders use. The Equifax score, like the FICO® score,ranges from 300-850, with a higher score being viewed as a better risk than someone with a lower score.
(Source: FRBNY Consumer Credit Panel/Equifax)
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