To measure the average credit score in the U.S., the credit score model used has to be considered first. The most broadly used credit score model is provided by the Fair Isaac Corp. Their credit score model, the FICO Score, is the most extensively employed credit score for lending purposes and therefore is the most important score to look at when discussing the average credit score.
Data regarding the average credit score can be gleaned directly from FICO Score information published by Fair Isaac. The published date contains a breakdown of credit score ranges without directly identifying the average credit score.
Of course, the average credit score will change as the credit profiles of consumers change with the economy. Each credit score is based on information the credit reporting agencies keeps on file about consumers. Though the changes in the average credit report may change very little, they are likely to change with the ups and downs of our financial circumstances which are often heavily dependent on the strength of the economy.
Each consumer that has a credit profile will have three FICO scores, one for each of the three credit reporting agencies, Experian, TransUnion and Equifax. FICO credit scores are produced on a scale from around 300 to 850, with 850 being the highest credit score possible.
The last published distribution of FICO scores in the U.S. was produced by Fair Isaac in April 2010. The FICO score distribution was based on a nationwide sample of consumer credit data from Equifax credit reports only.
The distribution of the credit scores showed the following results:
6.9% of the population had credit scores of 300 to 499
9.0% had credit scores of 500 to 549
9.6% of the population had a credit score of 550 to 599
9.5% had scores between 600 and 649
11.9% of the population had credit score that were between 650 and 699
15.7% had credit score of 700 to 749
19.5% of the population had credit scores of 750 to 799
17.9% had credit score that were between 800 and 850
VantageScores are offered by credit reporting agencies as an alternative FICO scores but are not as widely used. VantageScores range from 501 to 990, with 990 the highest credit score available. The VantageScore was developed by Experian, one of the three major credit reporting agencies, and the other national credit reporting agencies. Experian publishes the average credit score or VanatageScore nationally and by state. The current average VantageScore credit score is 736.
Experian also produces the Experian National Score Index. This index is based on the Experian PLUS Score. The PLUS Score, like the other credit scores, is derived from information in a credit report. It can range from low score of 330 to the highest credit score of 830. Based on information from Experian, the Experian National Score Index provides results based on data collected from a representative sample of three million U.S. consumers’ credit profiles. The current average credit score based on the Experian National Score is 692.
Additional resources regarding credit score facts and figures can be found at:
Highest Credit Score
Credit Scores Range
What is a Good Credit Score