Check this out: Minnesotans are contributing to something unexpected and impressive! According to a recent survey, we have the highest average credit score in the country!
Here’s Five Fast Facts on Minnesota’s Credit Score:
- 🔝 First Place - A recent survey from Wallethub says we clock in with an average score of 724!
- 💳 Good Not Great - According to Experian, that means our statewide average credit rating is “good.” For reference: 800-850 is “exceptional” credit. Most lenders consider a 724 as “acceptable.” So while we’re the best, we still could use some improvement.
- 👇 Last Place - If you guessed Mississippi had the worst average score, you are 100% correct. However, it’s not that bad, balancing out at 662, which Experian considers “fair.”
- 👌 Above Average - FYI the average nationwide credit score is 695. That’s not too shabby, but again, it’s a sign we could all be doing better when it comes to our spending and borrowing habits.
- 👴 Old News - In the bigger picture, though, our state’s score may indicate that we have a considerable aging population, since anecdotal evidence suggests credit scores begin to improve as we get older.
🔥Bottom line: This is just one more thing for us to brag about. It’s also a reminder that we (and you) can be doing better when it comes to managing our credit. But don’t worry. Wisconsin didn’t even make the top 10, so feel free to point and laugh.
What’s your credit score?
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