The average American has a credit score of 701, at the lower end of the good credit range. While many consumers strive to increase their credit score and enter the excellent credit range, residents of some states are closer to that goal.

WalletHub recently ranked the states with the highest credit scores, based on TransUnion data as of October 2024.

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Minnesota has the highest average credit score, at 726. This state has the eighth-highest average income in the country. Those living in Minnesota are also increasing their credit-card debt more slowly than people in many other states. 

Other top states are New Hampshire and Vermont, with average credit scores of 723 and 722, respectively. New Hampshire has a low unemployment rate and its residents are also the least likely in the nation to be in financial distress. Vermont also has a low unemployment rate and its residents have good budgeting skills.

"The average credit score by state ranges anywhere from 672, which is in the middle of the fair credit range, to 726, which is well into the good credit range," Chip Lupo, WalletHub Analyst, said in a release. "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."

Read more about the states with the highest credit scores.

States ranked by credit scores