Average Credit Score in America of February 2024

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Last Update: September 25, 2023 Credit Cards Credit Report Loans Studies
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The average credit score in America is 716.

\It’s another year and another record-high for the average U.S. FICO Score. And after the five-point increase in 2021, the latest rise is a function of many factors, and the pandemic did little to deter the credit boom that unfolded across the United States.

But before that a few words about our studies.

Why Should You Trust ElitePersonalFinance?

With accuracy and accountability in mind, we pride ourselves on presenting you with the latest information from the most reliable sources. We carefully select data from the largest credit reporting agencies – like FICO, Equifax, Experian, and TransUnion. In addition, we augment our studies with relevant data from the U.S. government, the U.S. Federal Reserve (Fed), the Consumer Financial Protection Bureau (CFPB), and other reputable research institutions.

Moreover, our editorial team carefully vets all of the findings, and sources are present at the bottom of the page.

Average Credit Score in America of February 2024: Statistics and Key Findings

The average U.S. FICO Score is 716 – a new all-time high and five points higher than 2020.

The average U.S. FICO Score has demonstrated a clear uptrend since 2009 and has increased by 30 points during that timeframe.

In 2021, nearly 63% of Americans had a FICO Score of more than 699.
FICO considers 716 a “good” credit score.

The average U.S. VantageScore is 698 – a new all-time high and 10 points higher than 2020.

By State:

Minnesota (724), Vermont (721), and Massachusetts (720) are the U.S. states with the highest average VantageScore.

Mississippi (662), Louisiana (669), and Alabama (671) are the U.S. states with the lowest average VantageScore.

Alabama, Kentucky, and Mississippi are the U.S. states with the highest bankruptcy rates per capita.

By Age:

There is a positive correlation between Americans’ age and credit scores: the older they are, the higher their credit scores.

The Silent Generation (75+) has an average U.S. FICO Score of 758 – 47 points higher than the national average.

Generation Z (18-23) has an average U.S. FICO Score of 674 – 37 points less than the national average.

Americans aged 18-29 have the highest proportion of their total loans in serious delinquency (90+ days past due) as of Q3 2021.

Americans aged 18-29 have the highest proportion of their credit card loans in serious delinquency (90+ days past due) as of Q3 2021.

By Income:

There is a positive correlation between Americans’ incomes and credit scores: the higher their incomes, the higher their credit scores.

High-income Americans have a median Equifax Risk Score of 774, while low-income Americans have a median Equifax Risk Score of 658.

By Race:

Asian Americans (745) have the highest average credit score, while Black Americans (677) have the lowest.

By Gender:

American men have an average VantageScore of 781, while American women have an average VantageScore of 774.

Data from the U.S. Department of Labor (DOL) shows that women earn 82% of men’s median salary. And with credit scores highly correlated with incomes, the dynamic places women at a disadvantage.

By Credit Bracket:

15.5% (39.28 million) of Americans have bad credit, 21.7% (54.99 million) have fair credit, and 62.8% (159.15 million) have good credit.

The percentage of Americans with good credit increased by 5% year-over-year (YoY) – the highest YoY percentage increase in sixteen years.

Alternative Data:

TransUnion found that disclosing rent payment history increased Americans’ VantageScore by an average of nearly 60 points (data compiled through March 2021).

Roughly 9% of Americans with no credit score that disclosed their rent payment history saw their VantageScore debut at an average of 631.

12% of Americans with established credit scores saw their credit scores increase after disclosing their rent payments.

60% of participants may receive an immediate uplift in their credit scores during the same month that their rent disclosures begin.

The Pandemic Effect:

TransUnion found that 58% of Americans that enrolled in financial hardship programs during the pandemic increased their VantageScore.

Americans that exited hardship programs early demonstrated a 4.8% delinquency rate (30+ days past due) in the six months after obtaining a new bank card in the fourth quarter of 2020.

Americans that remained in hardships programs demonstrated a 4.9% delinquency rate during that same timeframe.

Americans that avoided hardship programs showed a 5.1% delinquency rate during that same timeframe.

Average Credit Score in America of February 2024: Charts, Graph, Analysis

Historical Average U.S. FICO Score

While America’s on-again, off-again relationship with COVID-19 has sent consumer confidence on a wild ride, U.S. credit scores have been significant beneficiaries. Moreover, Americans’ balance sheets have never been more resilient, with enhanced unemployment benefits, surging stock prices, and record-breaking home prices uplifting U.S. household wealth.

Thanks to the CARES Act and private lenders providing loan forbearance programs, U.S. delinquency rates, and personal bankruptcies have also fallen to record lows. As a result, the average U.S. FICO Score hit a new all-time high of 716 in 2021 and recorded its ninth-straight annual increase.

Year:Average U.S. FICO Score:
2005688
2006690
2007689
2008689
2009686
2010687
2011689
2012689
2013690
2014694
2015696
2016699
2017701
2018705
2019706
2020711
2021716

ElitePersonalFinance analysis of FDIC data.

Historical Average U.S. VantageScore

Recording the highest point increase in eight years, the average U.S. VantageScore increased by 10 points from 2020 to 2021. And consistent with the data released by FICO, the CARES Act, and record-high asset prices combined to create nirvana for U.S. creditworthiness.

Year:Average U.S. VantageScore:
2013681
2014666
2015669
2016673
2017675
2018680
2019682
2020688
2021698

Average U.S. VantageScore by State

With the latest data from Equifax revealing that Minnesota remains the gold standard for U.S. creditworthiness, the mid-western state has an average VantageScore of 724. Earning the silver and bronze medals, Vermont is second at 721, while Massachusetts is third at 720.

On the flip side, Mississippi is the worst performer, with an average VantageScore of 662. Likewise, Louisiana and Alabama have the second and third-worst-performing scores of 669 and 671, respectively. For context, the average U.S. VantageScore is 698.

State:Average U.S. VantageScore:
Alaska697
Alabama671
Arkansas677
Arizona698
California709
Colorado714
Connecticut710
District of Columbia699
Delaware696
Florida689
Georgia674
Guam681
Hawaii716
Iowa711
Idaho706
Illinois704
Indiana693
Kansas701
Kentucky680
Louisiana669
Massachusetts720
Maryland698
Maine708
Michigan705
Minnesota724
Missouri692
Mississippi662
Montana708
North Carolina684
North Dakota715
Nebraska715
New Hampshire718
New Jersey710
New Mexico683
Nevada681
New York712
Ohio695
Oklahoma675
Oregon713
Pennsylvania708
Puerto Rico689
Rhode Island709
South Carolina675
South Dakota717
Tennessee682
Texas674
Utah708
Virginia700
Virgin Islands676
Vermont721
Washington715
Wisconsin717
West Virginia679

Average VantageScore 2024

Wyoming wasn’t provided by Equifax.

Interestingly, the New York Fed’s latest Household Debt and Credit Report shows that California, New Jersey, and Arizona have the highest debt levels per capita in the U.S. However, California (709) and New Jersey (710) both have average VantageScores that exceed the U.S. average, while Arizona (698) sits right on the national average. And regarding the latter, Arizona residents suffered the most foreclosures per capita in the third quarter of 2021.

Conversely, Nevada residents had the highest percentage of their borrowers file for bankruptcy in Q3, and Nevada (681) has an average VantageScore that’s 17 points below the national average.

Also noteworthy, Experian analyzed data from when states began reporting their credit history up until August 2021. And with Alabama sporting a bankruptcy rate of 0.14, there are, on average, 14 bankruptcies per 100 people in the state. As a result, it’s no surprise that Alabama has the third-lowest average VantageScore in the U.S.

Coincidently, Louisiana – which has the second-lowest average VantageScore in the U.S. – didn’t make Experian’s top 10 list. Despite that, the majority of the names are concentrated in southern states that have the lowest average VantageScores.

State:Average Total Debt Per Capita:Average # of Bankruptcy Filings Per Capita:Average U.S. FICO Score:
Alabama$72,0620.14691
Kentucky$68,6240.11702
Mississippi$60,3750.11681
Nevada$105,1130.11701
Tennessee$83,5080.11701
Ohio$70,4880.10715
Illinois$85,1460.10720
Georgia$86,9640.10693
Arkansas$69,3090.10694
Indiana$73,8170.10712

Average U.S. FICO Score by Age

Like a fine wine, Americans’ credit scores improve with age. And with older generations grabbing the baton from younger generations, the data highlights how a strong credit profile is built over a lifetime.
To that point, The Silent Generation’s average U.S. FICO Score is 758 – 47 points higher than the national average. Conversely, Generation Z’s average U.S. FICO Score is 674 – 37 points less than the national average.

Generation:2019:2020:
Generation Z (18-23)667674
Millennials (24-39)668680
Generation X (40-55)688699
Baby Boomers (56-74)731736
Silent Generation (75+)757758

And what drives the divergence?

Well, simple accounting often solves the trick. For example, with older Americans often owning their homes and having built up reliable savings, their assets gre