Where does your state rank?
Maybe it’s something in the water? Americans living in northern states—particularly in New England and in the Midwest—tend to have higher average credit scores than their peers, according to data from credit-reporting company Experian.
Experian’s annual State of Credit survey crunched the numbers to rank the states in terms of average credit scores, with some interesting results. Specifically, there’s a clear geographic rift seemingly splitting the country in two:
Top three (best average credit scores)
Bottom three (worst average credit scores)
In addition to ranking the states, the Experian survey also revealed other data–and it’s mostly positive.
More than half of the states, for example, have a “good” average credit score, and even the states that are lagging behind fall into the “fair” range.
- The average American’s VantageScore (one method of calculating credit scores) is 675.
- The average American has more than three credit cards.
- The average credit card balance is $6,354.
You can catch up!
Improving your credit score is probably easier than you’d think. But it’ll require organization and a disciplined approach. If you have no credit or bad credit, here’s how to start improving your score:
- Make all of your payments on time—setting up payment reminders can be helpful.
- Try to keep your balances low.
- Keep an eye on your credit reports.
- Only apply for more credit if you need it; Opening too many accounts in short order can hurt your score.