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 2013
300-499 6.6% 6.5% 7.1% 7.2% 7.4% 6.9% 6.2% 6.0% 5.8%
500-549 8.0% 8.0% 8.0% 8.2% 8.7% 9.0% 8.7% 8.5% 8.4%
550-599 9.0% 8.8% 8.7% 8.7% 9.1% 9.6% 9.8% 9.9% 9.8%
600-649 10.2% 10.2% 9.7% 9.6% 9.5% 9.5% 10.0% 10.1% 10.2%
650-699 12.8% 12.5% 12.1% 12% 11.9% 11.9% 12.1% 12.2% 12.7%
700-749 16.4% 16.3% 16.2% 16% 15.9% 15.7% 15.5% 16.2% 16.3%
750-799 20.1% 19.8% 19.8% 19.6% 19.4% 19.5% 19.4% 18.8% 18.4%
800-850 16.9% 17.9% 18.4% 18.7% 18.2% 17.9% 18.3% 18.4% 18.6%
Total 100% 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 increased from 664 in 2013 to 666 in 2014. Below are the average Vantage scores by state

Rank State Average Credit Score Rank State Average Credit Score
1 Mississippi 633.3 27 Virginia 669.4
2 Georgia 637.0 28 Kansas 670.5
3 Nevada 640.0 29 Ohio 671.5
4 Louisiana 642.9 30 Colorado 672.0
5 Texas 645.3 31 Utah 674.0
6 Alabama 647.3 32 Washington, D.C. 676.0
7 Oklahoma 647.7 33 Oregon 676.3
8 South Carolina 647.8 34 Washington 676.3
9 New Mexico 652.0 35 Michigan 677.0
10 Arkansas 652.3 36 Illinois 678.0
11 Tennessee 652.3 37 New York 679.4
12 Florida 655.7 38 Rhode Island 680.0
13 North Carolina 656.2 39 Pennsylvania 681.7
14 Kentucky 657.5 40 Connecticut 684.0
15 West Virginia 657.8 41 Maine 685.0
16 Maryland 659.0 42 Hawaii 687.0
17 Arizona 659.5 43 Iowa 687.3
18 California 660.1 44 Montana 687.3
19 Alaska 665.0 45 Massachusetts 688.0
20 Indiana 665.2 46 Nebraska 688.7
21 Delaware* 666.0 47 New Jersey 692.0
22 New Hampshire* 666.0 48 South Dakota 692.0
23 Vermont* 666.0 49 Wisconsin 693.6
24 Missouri 667.3 50 North Dakota 695.0
25 Idaho 668.7 51 Minnesota 702.5
26 Wyoming 669.0 National Average: 666.0
* Assumption based on the National average
(Source: Experian National Score Index, 2014)

2014 State with the Highest Average Credit Score: Minnesota – 702.5

2014 State with the Lowest Average Credit Score: Mississippi – 633.3

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
12:Q1 695 615 713 789
12:Q2 696 616 714 790
12:Q3 696 616 714 790
12:Q4 695 616 713 789
13:Q1 696 618 715 790
13:Q2 697 620 715 789
13:Q3 695 620 711 788
13:Q4 696 621 712 789
14:Q1 697 623 713 790
14:Q2 698 624 715 790
14:Q3 698 625 715 791
14:Q4 697 625 714 790
15:Q1 699 627 716 792
* 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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