Texans Have Lowest Credit Scores in Nation

Texas consumers had the lowest credit scores on average in the nation, according to the latest Experian National Score Index report.

For the six-month period ended July 2007, Texans had an average credit score of 666, well below the national average of 692.

Conversely, consumers in Minnesota had the highest credit score on average, a healthy 721 score, which would typically yield the lowest interest rates and the highest approval ratio.

The Experian study also tracked the movement of consumer’s credit scores, finding that 33 percent in North Dakota, South Dakota, and Vermont improved their scores by up to 50 points during the six-month period, leading the nation.

But just three out of ten consumers nationwide saw an improvement in their score of up to 50 points during the same period.

The group also found that 41 percent of the population showed no change in their credit score, 2 percent had an increase between 51 and 100 points, 3 percent saw their scores drop between 51 and 100 points, and 23 had their score drop up to 50 points.

The average credit score in California was 691, 698 in New York, 685 in Florida, and 698 in Illinois, with the highest scores found in New England and the lowest found in West South Central U.S., where credit usage and late payments were the highest.

Learn more about how to raise your credit score.

(photo: sdbruns)

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