Californians, on common, have “good” credit score scores.
To check California’s bill-paying habits with these of different states, my trusty spreadsheet analyzed two rankings of credit score scores. These are the curious grades, which bankers use to estimate their probabilities of being repaid by debtors, rating how effectively a shopper settles their money owed.
After we averaged state outcomes from two main bureaus – FICO and VantageScore – we discovered the everyday Californian had a credit score rating of 714 final yr. For those who didn’t know, credit score scores run from a excessive of 850 to a low of 300, and in response to credit score bureau Experian, a 714 rating is inside the “good” vary.
“Lenders view consumers with scores in the good range as ‘acceptable’ borrowers, and may offer them a variety of credit products, though not necessarily at the lowest-available interest rates,” Experian defined in a information to credit score scores.
California’s rating was equal to the nationwide median and ranked twenty fourth greatest among the many states and the District of Columbia.
The very best credit score scores have been present in Minnesota, at 734, adopted by New Hampshire and Vermont, each at 730, Wisconsin at 729, and Washington at 727.
Mississippi has the bottom credit score scores, at 676, adopted by Louisiana at 684, Alabama at 686, and Texas at 688. By the way in which, Florida was No. 38 at 701.
