Minnesota Leads The Nation With Impressive Credit Scores

When it comes to managing money in America, Minnesotans are at the top of the list.

The average credit score in the United States is currently 702, which is actually pretty good! In fact, a score between 700-749 is considered "good," which is pretty, well, good for us as a whole.

In order to reach 'Great' status, a credit score needs to hit 750. Minnesota is not too far off from that goal.

WHAT FACTORS LEAD TO HIGHER CREDIT SCORES?

“The average credit score by state ranges anywhere from 669, which is in the middle of the fair credit range, to 723, which is well into the good credit range, said WalletHub's Chip Lupo. "That’s a 54-point difference. Moving to one of the top states may help you increase your own credit score, as they tend to have high average incomes, low unemployment rates and other positive economic factors that make it easier for residents to pay their creditors on time and limit their borrowing."

WHO HAS THE HIGHEST CREDIT SCORE IN US? 

A new study by WalletHub finds that the average credit score amongst Minnesotans is 723- the highest in the nation!

Minnesota has seventh-highest average income in the US and recently ranked as the third-best place in the country to find a job, behind only Massachusetts and Connecticut. In addition, Minnesotans manage their credit well with low rates of delinquency and financial distress.