This map shows Americans' average credit score in every state
Added 05-21-19 03:02:02pm EST - “Americans in certain areas of the country have significantly higher average credit scores than others. Experian's annual State of Credit report shows the average score in each U.S. state.” - Cnbc.com
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Minnesota residents can brag about more than their 10,000 lakes — they typically have the country's best credit scores too. As in previous years, the midwestern state has America's highest average credit score, according to Experian.
Those living in Minnesota have an average score of 713, which falls into the "good" range of scores between 670 to 739, according to Experian. The company's annual State of Credit report and state ranking is based on Vantage Scores, which range from 300 to 850. South Dakota, Vermont, New Hampshire and Massachusetts round out the top five states with the highest average credit scores for 2018.
At the other end of the spectrum, residents in southern states had the lowest average credit scores. The lowest score, 652, belonged to those living in Mississippi. Louisiana, Nevada, Georgia and Texas are all in the bottom of Experian's ranking as well, with scores of 659 or below.
"The southern tier of the U.S. has historically had lower scores than the Midwest and the northern part of the country," Rod Griffin, Experian's director of consumer education and awareness, tells CNBC Make It. That said, he notes that it is difficult to pinpoint exactly why, saying that it's likely a mix of the economic environment and cultural norms.
While there is no single cause, the rate at which people in the South are using their available credit tends to be consistently higher than in other parts of the country, Griffin says.
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COMMENTS VIA TWITTER
RT @UnionBank: See how your credit score compares with this map of the average credit scores in every state. https://t.co/pyDv5raasE
See how your credit score compares with this map of the average credit scores in every state. https://t.co/pyDv5raasE
Credit scores are creeping upward for most Americans, according to the latest “State of Credit” report from credit… https://t.co/3jOMfsJo9C