Northeast Had Highest Credit Scores in 2023

With a score of 701 on the VantageScore model and 715 on the FICO score model, the average American had good credit in 2023, according to WalletHub.

Overall, credit scores have steadily increased in recent years, with 2023 seeing the highest scores yet.

Geographically, the Northeast had the highest average credit score (714), followed by the West (712), Midwest (710), Southeast (690) and Southwest (685).

With an average score of 726, Minnesota had the highest credit by state. Mississippi had the lowest with an average of 673. In comparison, Pennsylvania’s average credit score last year was 709, making it the 22nd state with the highest credit. The Philadelphia area had an average score of 669.

By age, statistics show that credit scores tend to improve as people get older. The average scores in 2023 by age group were:

• 18-26 years old: 680
• 27-42 years old: 690
• 43-58 years old: 709
• 59-77 years old: 745
• 78+ years old: 760

These numbers are typical, as people become more financially responsible and gain more wealth as they age. Additionally, the length of your credit history accounts for around 15% of your score, which results in younger people with shorter credit histories having lower scores.

By income, the average scores broke down as follows:

• Low income: 658
• Moderate income: 692
• Middle income: 735
• High income: 774