NC ranked 34th in the nation in 2020’s states with the highest & lowest credit scores
With an average personal credit score of 679, North Carolina consumers rank in the middle of the nation but second best in the South, behind Virginia and ahead of Florida, according to statistics compiled by WalletHub, the personal finance website.
“A person’s credit score is one of the biggest factors that determines the course of their financial life, from getting credit cards to qualifying for home loans to even renting apartments,” according to WalletHub.
“The average credit score in the U.S. is 680. That puts the average American slightly below the bottom of the good credit range. The number to strive for is at least 750, which marks the beginning of the excellent credit range.”
The COVID-19 pandemic has wreaked havoc on people’s finances, leading many people to need to take out loans or fall behind on their payments. While the government has taken some steps to protect people’s credit scores, such as offering forbearance on federally- or GSE-backed mortgages, not everyone can take advantage of relief.
In order to determine the states with the highest and lowest credit scores, WalletHub compared the average credit scores of residents in each of the 50 states as of September 2020, based on TransUnion data. Read on for the results, additional commentary from a panel of experts and a full description of our methodology.
States with the highest and lowest credit scores
|Rank (1=Highest)||State||Average Credit Score|