What Is the Average Credit Score in the U.S.?

The average FICO® Score in the U.S. is 703 according to data from Experian from the second quarter of 2019. Many adults know their FICO® Scores, but not everyone understands how they compare against other Americans.

The FICO® Score, which ranges between 300 and 850, is the most commonly-used credit scoring model by lenders for evaluating a borrower's creditworthiness. A FICO® Score of 703 is considered "good" by most lending standards. Approximately 21% of Americans had a FICO® Score that fell in the "good" credit score range in the second quarter of 2019, while approximately 58% had a FICO® Score of 703 or greater.

  • Someone with a FICO® Score of 800 or above is considered to have "exceptional" credit.
  • People with scores ranging from 740-799 fall into the "very good" credit range.
  • Scores between 670-739 are considered "good" scores.
  • A "fair" score falls between 580-669.
  • Any score that is lower than 579 is considered a "poor" score.

What Is the Average Credit Score by Age Group?

The average FICO® Score generally varies depending on the age group. As of the second quarter of 2019, the average FICO® Score in each age group increased by two points, on average, since last year. According to Experian data from the second quarter of 2019, people over age 60 had the highest average FICO® Score of 749, a two-point increase from the same time last year.

Average FICO<sup>®</sup> Score by Age

Americans between the ages of 50 and 59 hold the second-highest FICO® Score average of 706. People between the ages of 40 and 49 have an average FICO® Score of 684, while Americans between the ages of 30 and 39 score 673 on average. The average FICO® Score for Americans between the ages of 20 and 29 is 662.

How Are Credit Scores Calculated?

FICO® Scores are calculated by evaluating the data in your credit file to determine how likely it is you will pay back your credit obligations. FICO® Scores consider major factors like your payment history, credit utilization, and age of credit history, among other criteria, in order to produce a number that reflects your creditworthiness.

FICO® Scores are based on five types of information found in your credit report:

  1. Payment History: Payment history is the most important aspect of your credit report and shows whether you have paid your credit accounts on time.
  2. Amounts Owed: How much debt you have is is the second most important category, including the evaluation of how much of your available revolving credit you are using each month.
  3. Length of Credit History: The length of your credit history is based on how long you have had credit accounts open. A more established credit history usually equates to lower risk.
  4. Recent Activity: This category looks at how many "inquiries" you have, how many times you have applied for credit in the past 12 months.
  5. Credit Mix: Your credit mix is based on how many different types of credit accounts you have, including mortgages, credit cards, auto loans, and installment loans.

Though these are the five factors used in determining a FICO® Score, it is important to remember that lenders often look at everything in a credit report along with other information on your credit application, such as your current debt-to-income ratio for example.

What Is Considered a Good Credit Score?

A credit score higher than 670 in the 300-850 scoring range is generally considered "good." A credit score of 800 or above on the same range is considered to be "exceptional." Higher scores generally indicate that you have made better credit decisions, thus making lenders more confident that you are likely to repay your future debts on time.

More Americans are Scoring Higher

The average FICO® Score has increased over time as the number of Americans with exceptional scores have grown. In the second quarter of 2019, more than 20% of Americans were considered to have an exceptional FICO® Score, the same percentage compared to the second quarter of 2018.

Meanwhile, the percent of Americans with average FICO® Scores below 550 has decreased one percentage point compared with 2018. Only 12% of the U.S. population has a FICO® Score that is less than 550 in the second quarter of 2019.

Average Credit Score by State

Here is a look at the average FICO® Score by state from the second quarter of 2019 and 2018. There were 42 states that saw an increase in their average FICO® Score in 2019 compared to 2018. Nine states remained at the same average credit score, and no states saw a decrease. Minnesota had the highest average FICO® Score of 733 in the second quarter of 2019.

Average FICO® Score by State
District Of Columbia703700
New Hampshire724722
New Jersey714713
New Mexico686685
New York712710
North Carolina694693
North Dakota727726
Rhode Island713710
South Carolina681680
South Dakota727727
West Virginia687686

How Do You Improve Your Credit Scores?

Improving your FICO® Score can be very helpful before applying for a new line of credit like a credit card, mortgage, or personal loan, because a higher score can help you secure the best terms and interest rates available. Here are some actions that can help improve your FICO® Score over time:

  • Making sure you pay all of your bills on time. This will help ensure your payment history is unblemished and shows lenders that you have a history of paying on time.
  • Keeping balances on your credit cards low will help keep your utilization at a good level.
  • Limiting your applications for new credit to only when you really need it.

Know your financial profile to understand what lenders see when they look at your credit report so you can make sure to get the best interest rates and terms.