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Want to know the current state of credit scores in the US? We compiled a list of the most interesting credit score statistics to answer all your credit score questions.

While credit scores play a major role when applying for loans, credit cards, or even an apartment or a job, many people still struggle to understand their credit score and the ways to improve it. These credit score statistics may help you understand your score situation better, which can be an important first step toward improvement!

Key Findings

  • The average credit score in the US is 714 as of 2021.
  • The Silent Generation records the highest average score of any age group with a 760 average.
  • Native American communities recorded the lowest average score of 612.
  • Minnesota is the state with the highest average score (724), while Mississippi has the lowest (681).
  • Only 1.2% of Americans have the best possible credit score of 850.
  • Nearly 1 in 3 U.S. consumers have subprime credit.
  • 9.68% of the U.S adult population is “credit invisible”.
  • 34% of credit reports contain errors.
  • Credit report disputes are at an all-time high.

The Average Credit Score in the US

The average FICO score in the US in 2021 was 714, a 4-point increase from the previous year.[1] Trusted source
Experian
Experian is one of the three largest credit bureaus in the U.S. Experian collects credit information on individuals. This information is used to rate overall ability to pay debt.

Although the year 2021 was still heavily affected by the pandemic, the economy managed to grow at a 6.9% annual rate. Federal relief programs like stimulus checks and the student loan payment freeze played a key role in the credit score increase. Many borrowers managed to keep up with their debt obligations and avoid damage to their credit scores. Some of them actually managed to improve their credit scores.

Average Credit Score by Age

Credit score statistics by age show that older people tend to have higher credit scores. They have greater incomes, more credit history, and far more experience in managing credit, and their youthful mistakes have long since dropped off their credit reports.

People aged 18-24 (Gen Z) have the lowest average scores (679) and those aged 76+ (Silent Gen) have the highest average scores (760).[1] Trusted source
Experian
Experian is one of the three largest credit bureaus in the U.S. Experian collects credit information on individuals. This information is used to rate overall ability to pay debt.

  • 679 Generation Z
  • 686 Millennials
  • 705 Generation X
  • 740 Baby Boomers
  • 760 Silent Generation

Average Credit Score by Race

In 2021, the highest average score was recorded by White communities with a 727 average score, followed by Hispanic communities with an average of 667, and Black communities with 627.

Native American communities recorded the lowest average score with a 612 average.[3]

Average Credit Score by State

Credit scores have been on the rise in all states, although that growth has been the slowest in Southern states, which still have the lowest average credit scores. Midwestern states on the other hand have maintained the highest average credit score.

The state of Minnesota had the highest average score of 742, while the state of Mississippi registered the lowest score of 681. The perfect average – a credit score of 714 – was registered by the state of Delaware.[1] Trusted source
Experian
Experian is one of the three largest credit bureaus in the U.S. Experian collects credit information on individuals. This information is used to rate overall ability to pay debt.

Fun Fact: The Villages, advertised as Florida’s Friendliest Active Adult 55+ Retirement Community, is the city with the highest average credit score in the US.[2]

How Many People Have a Perfect Credit Score?

Having the perfect credit score seems like the ultimate goal, but credit score statistics show that only 1.2% of Americans have an exceptional credit score of 850. The good news is that any score above 810 is considered perfect by most lenders. With a score above 810 lenders will offer you the best terms and the lowest interest rates.[4] Trusted source
Experian
Experian is one of the three largest credit bureaus in the U.S. Experian collects credit information on individuals. This information is used to rate overall ability to pay debt.

How Many People Have Subprime Credit?

30% of U.S. consumers had a credit score between 580 and 669 in 2021.

Although the numbers look grim, with nearly 1 in 3 people having subprime credit, the trend is positive. The number of subprime consumers dropped by 4% from 2020.[5] Trusted source
Experian
Experian is one of the three largest credit bureaus in the U.S. Experian collects credit information on individuals. This information is used to rate overall ability to pay debt.

How Many 18 Years Old Have Credit Scores?

Roughly 16% of 18-year-olds have credit scores, the remaining 84% being “credit invisible”, stale unscored, or insufficiently scored.[6] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

How Many People Are Credit Invisible?

CFPB data from 2015 indicates that 26 million consumers are “credit invisible” and another 19.4 million have thin credit files.[2] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

That means that 11% of the U.S adult population at that time was part of the “credit invisible” category.

Credit Invisible Americans by Income Level

About 29% of consumers with low income fall into the “credit invisible” category. Meanwhile, statistics show that those with moderate income represent 18%, those with middle income 11%, and only 4% of the consumers with upper income are “credit invisible”.[6] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

Credit Invisible Americans by Age

65% of teenagers aged 18-19 are credit invisible, representing the age group with the highest percentage of consumers that are part of the credit invisible category.

The lowest percentage of credit invisible consumers was reported in the 60-64 age group (only 3%).[6] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

Credit Invisible Americans by Race

Statistics show that 16% of Hispanic consumers are credit invisible, followed by Black consumers (15%), Other consumers (14%), Asian consumers (10%), and White consumers (9%).[6] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

Credit Invisible Americans by Age and Race

Minority populations are generally more likely to be credit invisible or have unscored credit records. Although the percentages are quite high for the 18-19 age groups, we can see that by the age of 20-24 the numbers decrease significantly and are relatively steady until the age of 60-64 when they grow again.[6] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

How Often Do People Check Their Credit Reports?

A survey conducted in 2020 shows that only 33% of Americans checked their credit reports in the past year.

Just 20% of those aged 75 and older reviewed their credit report in the last year, placing them at an increased risk of fraud.[7]

How Many Credit Reports Have Errors?

A study by the Consumer Reports shows that 34% of the participants found at least one error on their credit reports, most of them being related to their personal information (29%) and their account information (11%).[8] Trusted source
Consumer Reports
Consumer Reports is a non-profit consumer group devoted to independent product testing, accountability reporting, consumer-focused research, public education, and consumer advocacy in the United States.

Credit reports containing errors related to personal information:
29%
Wrong address56
Name Misspelled33
Wrong name17
Other (e.g: wrong phone number)37
Credit reports containing errors related to account information:
11%
Unknown accounts41
Unknown debt report to collections26
Payments reported late but made on time23
Missed payments not reported as being paid12
Other (e.g: another account added)33

How Many People Disputed Their Credit Reports?

In 2021, consumers filed more than 300,000 complaints about credit reporting issues — more than half of all complaints received last year by the Consumer Financial Protection Bureau.[9] Trusted source
Consumer Financial Protection Bureau
CFPB is an independent bureau within the Federal Reserve System that promotes fairness and transparency for consumer financial products and services.

The rise in consumer complaints has been growing by over 20% per year since 2016 when CFPB started tracking the numbers.

The complaints to the CFPB about credit reporting issues have continued to rise in 2022, with over 100,000 complaints filed in the first three months of the year alone.