Average American Credit Score Hits Record High
January 13, 2020
Americans’ average credit score hit an all-time high last year. The average FICO score increased to 703 in 2019, according to Experian. This is a two-point increase over the previous year. The average credit score has increased 14 points since 2010. This is good news for the economy, as it means more Americans qualify for credit cards, mortgages, and loans with favorable rates.
Minnesota continued its eight-year streak as the state with the highest credit rating, averaging 731. Mississippi residents have the lowest average credit score at 667. In total, 59 percent of Americans have a FICO score above 700, the highest percentage ever to reach that level.