(WWTI) – With the COVID-19 pandemic causing many people to borrow more or fall behind on payments, personal-finance website WalletHub analyzed the average credit scores of residents in all 50 states and released its report on 2020’s States with the Highest & Lowest Credit Scores.
According to WalletHub, the average credit score in the U.S. is 680, which puts the average American slightly below the bottom of the good credit range. The number to strive for is at least 750, which marks the beginning of the excellent credit range.
WalletHub compared the average credit scores of residents in each of the 50 states as of September 2020, based on TransUnion data.
The average credit score in New York is 691, which ranks 21st highest in the U.S.
The states that ranked in the top five include:
- Minnesota, with an average score of 720
- Hawaii, with an average score of 709
- Washington, with an average score of 709
- North Dakota, with an average score of 709
- South Dakota, with an average score of 707