The average credit score of Americans - as measured by the FICO score - increased for the first time in about two years in early 2023. The average score in April 2024 stood at 715 The score as displayed ranges from 300 to 850 and is based on three different consumer reporting agencies (CRAs) in the United States, namely Equifax, TransUnion and Experian. The source adds that the score was especially impacted by slowing inflation, lower unemployment figures and changes to certain consumer credit data.

This statistic shows the average credit scores in the United States in 2017, by state. In 2017, the average credit rating in Alabama was 654 whereas it was 702 in Vermont.

Graph and download economic data for Large Bank Consumer Credit Card Balances: Current Credit Score: 50th Percentile (RCCCBSCOREPCT50) from Q3 2012 to Q3 2024 about score, FR Y-14M, consumer credit, credit cards, large, percentile, balance, credits, loans, consumer, banks, depository institutions, and USA.

This statistic shows the average credit scores in the United States in 2017, by generation. In 2017, Millennials (or Gen Yers) had an average credit rating of 638 in the U.S.

In 2019, the average credit score for consumers in the United States was 703. Meanwhile, it was 749 points among consumers over 60 years of age, which was 87 points higher than the average of those in their twenties.

Graph and download economic data for Large Bank Consumer Mortgage Balances: Current Credit Score: 50th Percentile (RCMFLBSCOREPCT50) from Q3 2012 to Q3 2024 about score, FR Y-14M, large, percentile, balance, credits, mortgage, consumer, banks, depository institutions, and USA.

The average credit score of borrowers with new car loans in the United States increased by 4 points from 2019 to 2023. In the third quarter of 2023, the average credit score of borrowers of new car loans was 733, while the credit score of people with new leased cars was 737 points in 2023. Leases had on average higher risk scores than loans throughout the timeline.

As of March 2020, 0.53 percent of Americans had completed graduate school and had a score value of A, which corresponds to traditional credit score of at least 820. They utilized 1,500 proprietary demographic, psychographic, attitudinal, econometric and summarized credit attributes to build the GeoCredit Score database. GeoCredit scores ranges from A (highest traditional score value) to T (lowest traditional score value).

In the third quarter of 2023, the average credit score of used car loan originations in the United States was 690 points. That credit score was somewhat lower than that of new car loans: 735 points at that same period. In both cases, however, the average credit score has been increasing slightly during the past years.

This statistic presents the distribution of credit scores in the United States in 2015, by age. In that year, 28 percent of Americans, aged 30 or below, had an average credit score less than 621.

Graph and download economic data for Delinquency Rate on Credit Card Loans, All Commercial Banks (DRCCLACBS) from Q1 1991 to Q4 2024 about credit cards, delinquencies, commercial, loans, banks, depository institutions, rate, and USA.

This statistic shows the cities with the lowest credit scores in the United States in 2018 In that year, residents of Camden, New Jersey had the lowest median credit out of 2,572 cities in the U.S. with a median credit score of 543.

The average credit score of apartment renters in the United States varies depending on the type of building and the age of the renter. In 2020, renters of mid-level apartments in the United States had an average credit score of 626 but for Baby Boomer renters the score was 675, and for Gen Z renters it was 583.

As of March 2020, over three percent of Americans were earning over 100,000 U.S. dollars and had a score value of A, which corresponds to traditional credit score of at least 820. The most common credit score value for those earning between 50,000 and 74,999 U.S. dollars is F, which equals a traditional credit score between 720 and 739. This proprietary data from Infutor shows the credit-worthiness of consumers. They utilized 1,500 proprietary demographic, psychographic, attitudinal, econometric and summarized credit attributes to build the GeoCredit Score database. GeoCredit scores ranges from A (highest traditional score value) to T (lowest traditional score value).

Expert industry market research on the Credit Unions in the US (2002-2031). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

The foreclosure rate in the United States has experienced significant fluctuations over the past two decades, reaching its peak in 2010 at 2.23 percent following the financial crisis. Since then, the rate has steadily declined, with a notable drop to 0.11 percent in 2021 due to government interventions during the COVID-19 pandemic. In 2024, the rate stood slightly higher at 0.23 percent but remained well below historical averages, indicating a relatively stable housing market. Impact of economic conditions on foreclosures The foreclosure rate is closely tied to broader economic trends and housing market conditions. During the aftermath of the 2008 financial crisis, the share of non-performing mortgage loans climbed significantly, with loans 90 to 180 days past due reaching 4.6 percent. Since then, the share of seriously delinquent loans has dropped notably, demonstrating a substantial improvement in mortgage performance. Among other things, the improved mortgage performance has to do with changes in the mortgage approval process. Homebuyers are subject to much stricter lending standards, such as higher credit score requirements. These changes ensure that borrowers can meet their payment obligations and are at a lower risk of defaulting and losing their home. Challenges for potential homebuyers Despite the low foreclosure rates, potential homebuyers face significant challenges in the current market. Homebuyer sentiment worsened substantially in 2021 and remained low across all age groups through 2024, with the 45 to 64 age group expressing the most negative outlook. Factors contributing to this sentiment include high housing costs and various financial obligations. For instance, in 2023, 52 percent of non-homeowners reported that student loan expenses hindered their ability to save for a down payment.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-03-12 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

Financial overview and grant giving statistics of America's Christian Credit Union

As of March 2020, 1.4 percent of Americans lived in the Midwest and had a score value of A, which corresponds to traditional credit score of at least 820. The most frequently observed score values were C in the Midwest, Northeast, and West, while it was F in the South. This proprietary data from Infutor shows the credit-worthiness of consumers. They utilized 1,500 proprietary demographic, psychographic, attitudinal, econometric and summarized credit attributes to build the GeoCredit Score database. GeoCredit scores ranges from A (highest traditional score value) to T (lowest traditional score value).

As of March 2020, approximately 2.5 percent of American women had a geo-credit score value of A, which corresponds to traditional credit score of at least 820. Meanwhile, only 2.4 percent of American men had the same. This proprietary data from Infutor shows the credit-worthiness of consumers. They utilized 1,500 proprietary demographic, psychographic, attitudinal, econometric and summarized credit attributes to build the GeoCredit Score database. GeoCredit scores ranges from A (highest traditional score value) to T (lowest traditional score value).