GITNUX REPORT 2024

Average FICO Scores Vary Across States, Generations, and Credit Histories.

Unveiling FICO Scores Across America: Insights on Average Scores, Generational Trends, and Credit Profiles.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

Individuals aged 60+ have an average FICO score of 743.

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The average FICO score for millennials is 662.

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Homeowners have an average FICO score of 748.

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The average FICO score for Gen Z (born 1997-2012) is 674.

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The average FICO score for individuals with a student loan on their credit report is 678.

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The average FICO score for individuals with a credit inquiry within the last year is 701.

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Individuals with a bankruptcy discharge have an average FICO score of 563.

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Individuals with a credit freeze have an average FICO score of 672.

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Individuals with a credit age of more than 10 years have an average FICO score of 739.

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Individuals with a credit mix of credit cards, loans, and mortgages have an average FICO score of 749.

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The average FICO score for individuals with a mortgage is 719.

Statistic 12

The average FICO score for individuals with a car loan is 706.

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The average FICO score for individuals with a credit card only is 720.

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The average FICO score for individuals with credit card debt over $10,000 is 677.

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The average FICO score for individuals with no credit card debt is 715.

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The average FICO credit score in California is 728.

Statistic 17

The average FICO score in Texas is 680.

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The average FICO score in New York is 718.

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The average FICO score in Florida is 686.

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The average FICO score for individuals with a judgment of public record is 602.

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The average FICO score for individuals with no credit history is 600.

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Individuals with a credit mix of mortgages only have an average FICO score of 725.

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The average FICO score among Asians in the U.S. is 731.

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The average FICO score for African Americans is 711.

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The average FICO score for Hispanic Americans is 661.

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The average FICO score for Native Americans is 681.

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The average FICO score for individuals with a personal loan is 716.

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The average FICO score in the United States is 711.

Statistic 29

33% of Americans have a credit score below 670.

Statistic 30

Approximately 21% of consumers have a "super prime" credit score (800+).

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53% of consumers have a "prime" credit score (660-719).

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Only 1% of consumers have a credit score below 500.

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The median FICO score is 706.

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8% of consumers have a credit score between 300-579.

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46% of consumers have a credit score between 720-799.

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Individuals with a credit score above 700 are considered to have good credit.

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The average FICO score for individuals with a judgment on their credit report is 594.

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The average FICO score for individuals with an account in collections is 572.

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Only 4% of consumers have a credit score below 580.

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Individuals with a credit score above 800 are considered to have excellent credit.

Statistic 41

Individuals with a credit score below 650 are considered to have poor credit.

Statistic 42

The average FICO score for individuals with a bankruptcy on their credit report is 563.

Statistic 43

Individuals with a medical collections item on their credit report have an average FICO score of 552.

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The average FICO score for individuals with a repossession on their credit report is 565.

Statistic 45

Individuals with a tax lien on their credit report have an average FICO score of 574.

Statistic 46

The average FICO score for individuals with a first delinquency on their credit report is 630.

Statistic 47

The average FICO score for individuals with a past-due debt of $1,000 or more is 657.

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Individuals with a severe delinquency on their credit report have an average FICO score of 552.

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The average FICO score for individuals with a foreclosure on their credit report is 570.

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Individuals with a credit limit decrease have an average FICO score of 686.

Statistic 51

The average FICO score for individuals with high credit card debt is 653.

Statistic 52

Individuals with a credit utilization ratio above 50% have an average FICO score of 647.

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The average FICO score for individuals with a late payment is 624.

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The average FICO score for individuals with a credit card default is 597.

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The average FICO score for individuals with a credit utilization ratio of less than 30% is 730.

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Individuals with an average account age below 24 months have an average FICO score of 553.

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Individuals with a credit score increase of 20 points or more in a year have an average FICO score of 695.

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Individuals with a credit score decrease of 10 points or more in a year have an average FICO score of 638.

Statistic 59

Individuals with a credit mix of credit cards only have an average FICO score of 669.

Statistic 60

Individuals with a high number of credit inquiries have an average FICO score of 655.

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Summary

  • The average FICO score in the United States is 711.
  • 33% of Americans have a credit score below 670.
  • The average FICO credit score in California is 728.
  • Individuals aged 60+ have an average FICO score of 743.
  • The average FICO score for millennials is 662.
  • Approximately 21% of consumers have a "super prime" credit score (800+).
  • 53% of consumers have a "prime" credit score (660-719).
  • The average FICO score in Texas is 680.
  • Only 1% of consumers have a credit score below 500.
  • Homeowners have an average FICO score of 748.
  • The average FICO score for individuals with a bankruptcy on their credit report is 563.
  • The median FICO score is 706.
  • Individuals with a medical collections item on their credit report have an average FICO score of 552.
  • The average FICO score for individuals with a repossession on their credit report is 565.
  • 8% of consumers have a credit score between 300-579.

Step right up, folks, and behold the spectacular world of FICO scores - where numbers reign supreme and financial fates hang in the balance! With an average FICO score of 711 in the U.S., its a rollercoaster of credit statistics out there. From Californias high-flying 728 to Texass 680, and a motley crew of Millennials at 662, Gen Z at 674, and wise seniors at 743, its a credit score circus! But beware the murky waters of medical collections (552), bankruptcy (563), and repossession (565), where the FICO ferrets lurk. So saddle up, dear readers, and lets explore the whims and wonders of the credit score universe.

Average FICO score by demographic group

  • Individuals aged 60+ have an average FICO score of 743.
  • The average FICO score for millennials is 662.
  • Homeowners have an average FICO score of 748.
  • The average FICO score for Gen Z (born 1997-2012) is 674.
  • The average FICO score for individuals with a student loan on their credit report is 678.
  • The average FICO score for individuals with a credit inquiry within the last year is 701.
  • Individuals with a bankruptcy discharge have an average FICO score of 563.
  • Individuals with a credit freeze have an average FICO score of 672.
  • Individuals with a credit age of more than 10 years have an average FICO score of 739.
  • Individuals with a credit mix of credit cards, loans, and mortgages have an average FICO score of 749.
  • The average FICO score for individuals with a mortgage is 719.
  • The average FICO score for individuals with a car loan is 706.

Interpretation

In the world of FICO scores, it seems age brings wisdom - and a high credit score - with individuals aged 60+ boasting an impressive 743. Meanwhile, millennials might be rocking the latest tech trends, but their average FICO score of 662 suggests they might need to hit the books when it comes to financial responsibility. Homeowners are riding high with a score of 748, proving that having a piece of the American dream can also boost your financial standing. And for those with a student loan weighing them down, their average score of 678 shows that education might be priceless, but it can come at a cost. Remember, your credit score is not just a number – it’s a reflection of your financial journey, so choose your financial decisions wisely!

Average FICO scores by demographic group

  • The average FICO score for individuals with a credit card only is 720.
  • The average FICO score for individuals with credit card debt over $10,000 is 677.
  • The average FICO score for individuals with no credit card debt is 715.

Interpretation

These FICO score statistics serve as a financial check-up, revealing a spectrum of credit health among consumers. It seems that wielding a credit card can be a double-edged sword; while it can boost your score, carrying a heavy debt load can weigh it down faster than a lead balloon. Those who resist the temptation of credit card debt altogether appear to fare slightly better, showcasing the importance of balance in navigating the choppy waters of personal finance. So, remember: when it comes to credit scores, aim for the Goldilocks principle - not too high, not too low, but just right.

Average FICO scores by geographical region

  • The average FICO credit score in California is 728.
  • The average FICO score in Texas is 680.
  • The average FICO score in New York is 718.
  • The average FICO score in Florida is 686.
  • The average FICO score for individuals with a judgment of public record is 602.
  • The average FICO score for individuals with no credit history is 600.
  • Individuals with a credit mix of mortgages only have an average FICO score of 725.

Interpretation

In the tangled web of credit scores across states, it's as clear as a neon sign in the dark: Californians may catch a breeze at 728, while the Lone Star state lags behind at a respectful 680. New Yorkers are fine-tuning their credit symphony at 718, while Florida is sipping sweet tea at 686. Meanwhile, those with a public record judgment find themselves playing a blues riff at 602, and newcomers with no credit history are humming a cautious melody at 600. For those with a portfolio of mortgages, it seems they've struck the golden chord at 725. So, whether you're cruising on the Pacific highway or strolling through Central Park, your FICO score is your own financial anthem – sing it proudly, or maybe even in harmony with a few mortgages thrown in for good measure.

Average FICO scores for specific ethnic groups

  • The average FICO score among Asians in the U.S. is 731.
  • The average FICO score for African Americans is 711.
  • The average FICO score for Hispanic Americans is 661.
  • The average FICO score for Native Americans is 681.
  • The average FICO score for individuals with a personal loan is 716.

Interpretation

In a country where numbers often dictate our financial fate, these average FICO scores tell a tale of disparities and challenges. From the impressive 731 of Asian Americans to the respectable 711 of African Americans, the scorecard reveals a complex narrative of access and opportunity. While Hispanic Americans clock in at 661 and Native Americans at 681, the numbers hint at systemic hurdles that still need dismantling. And for those with personal loans hovering at 716, it's a reminder that financial decisions shape our credit future. In this numerical mosaic, let's not forget the vibrant stories behind the data and work toward a fairer financial landscape for all.

Distribution of credit scores among consumers

  • The average FICO score in the United States is 711.
  • 33% of Americans have a credit score below 670.
  • Approximately 21% of consumers have a "super prime" credit score (800+).
  • 53% of consumers have a "prime" credit score (660-719).
  • Only 1% of consumers have a credit score below 500.
  • The median FICO score is 706.
  • 8% of consumers have a credit score between 300-579.
  • 46% of consumers have a credit score between 720-799.
  • Individuals with a credit score above 700 are considered to have good credit.
  • The average FICO score for individuals with a judgment on their credit report is 594.
  • The average FICO score for individuals with an account in collections is 572.
  • Only 4% of consumers have a credit score below 580.
  • Individuals with a credit score above 800 are considered to have excellent credit.
  • Individuals with a credit score below 650 are considered to have poor credit.

Interpretation

In the quizzical world of credit scores, where numbers hold the power to shape financial destinies, the average FICO score of 711 stands as a beacon of hope amidst a sea of statistics. With 33% of Americans struggling below the 670 mark, it seems that the credit score gods have bestowed their favor on the select 21% who possess a "super prime" score of 800 or above. However, let us not forget the industrious 53% who proudly wear the badge of "prime" with scores between 660-719, striving to climb the credit ladder. As we marvel at the rare breed of 1% with scores below 500, we are reminded that the road to financial enlightenment is not without its pitfalls. Yet, with a median FICO score of 706 as our compass, we navigate this terrain with cautious optimism. So, let us hail those above 700 for their lofty status and empathize with the 8% dwelling in the credit score basement of 300-579. With each judgment and collection, the average FICO scores of 594 and 572 serve as cautionary tales, while the elite 800+ club revels in their exceptionalism. And as the 4% teeter precariously below 580, let us not cast judgment, for in the complex tapestry of credit scores, one number can change a lifetime.

Impact of credit behaviors on FICO scores

  • The average FICO score for individuals with a bankruptcy on their credit report is 563.
  • Individuals with a medical collections item on their credit report have an average FICO score of 552.
  • The average FICO score for individuals with a repossession on their credit report is 565.
  • Individuals with a tax lien on their credit report have an average FICO score of 574.
  • The average FICO score for individuals with a first delinquency on their credit report is 630.
  • The average FICO score for individuals with a past-due debt of $1,000 or more is 657.
  • Individuals with a severe delinquency on their credit report have an average FICO score of 552.
  • The average FICO score for individuals with a foreclosure on their credit report is 570.
  • Individuals with a credit limit decrease have an average FICO score of 686.
  • The average FICO score for individuals with high credit card debt is 653.
  • Individuals with a credit utilization ratio above 50% have an average FICO score of 647.
  • The average FICO score for individuals with a late payment is 624.
  • The average FICO score for individuals with a credit card default is 597.
  • The average FICO score for individuals with a credit utilization ratio of less than 30% is 730.
  • Individuals with an average account age below 24 months have an average FICO score of 553.
  • Individuals with a credit score increase of 20 points or more in a year have an average FICO score of 695.
  • Individuals with a credit score decrease of 10 points or more in a year have an average FICO score of 638.
  • Individuals with a credit mix of credit cards only have an average FICO score of 669.
  • Individuals with a high number of credit inquiries have an average FICO score of 655.

Interpretation

In a world where your FICO score is the ultimate social currency, these statistics paint a telling portrait of our financial follies. It seems bankruptcy is the new black, with a respectable 563 score to boot. Medical collections items and severe delinquencies are the badges of honor for those hovering at a cool 552 score, while those with credit utilization ratios resembling a sinking ship clock in at 647. But fear not, ye financially feckless, for the elite 730 club awaits those with credit utilization ratios under 30%—a rare breed seen nimbly gliding past the credit carnage below. So, raise your credit limits, diversify your credit mix, and may your FICO score forever be in the clouds.

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