Summary
A study by WalletHub found that Minnesota, New Hampshire, and Vermont have the highest average credit scores in the U.S., while Mississippi, Louisiana, and Alabama have the lowest. Credit scores are important for getting loans and credit, with higher scores indicating better creditworthiness.
Key Facts
- WalletHub used TransUnion data to compare credit scores across U.S. states.
- Minnesota has the highest average credit score at 723.
- New Hampshire and Vermont follow with average scores of 721 and 720, respectively.
- Mississippi has the lowest average credit score at 669.
- Louisiana and Alabama have average scores of 673 and 677, respectively.
- Credit scores help lenders decide on loan approvals, with scores ranging from 300 to 850.
- The national average credit score dropped from 718 in 2023 to 715 in 2024.
- Economic factors like income and employment rates influence credit scores.
