Skip to main content

Well done everyone, Minnesota's credit scores are the best

The state ranked No. 1 in Experian's rankings.
  • Author:
  • Updated:

What's happening?

A story involving a credit reporting bureau that doesn't involve your personal information being stolen (we see you, Equifax).

Experian has released its study into which states have the best credit scores in the U.S. – and wouldn't you know it, Minnesota is number 1!

Not only that, but Minnesota is also home to the 1st (Minneapolis) and joint 2nd (Mankato) best cities for average credit scores.

It shows that when it comes to managing credit products responsibly, Minnesotans are second to none.

What are our scores?

Experian examined the average VantageScore ratings (another credit scoring system similar to FICO) of each state, and Minnesotans came out on top with an average of 709.

This was ahead of Vermont (702), New Hampshire (701) and South Dakota (700).

The highest scoring states and cities tended to be northern, while those with the lowest scores were generally found in warmer climates.

Minneapolis had the highest average credit rating out of any city in the nation, matching Minnesota's 709, while Mankato was tied second with Rochester, New York at 708.

The data also found that Minnesotans have 2.97 credit cards on average, and their average balance is $5,911.

The maximum VantageScore you can get is 850.

But there are warning signs...

More people than ever have a Super Prime credit score, with 22.3 percent of Americans ranging between 781-850.

Meanwhile the number of Deep Subprime scores (below 600) has fallen to just 21.2 percent compared to 26.9 percent in 2012.

But there are warning signs out there. Experian points out that wages remain "stubbornly flat" nationally and home ownership rates are the lowest it's been since the '60s, with millennials waiting longer to get married, move out of home and buy cars.

Consumer borrowing outside of housing is creeping up meanwhile, rising to $3.83 trillion in November, the highest it's been in more than two years.

In further signs that we might be heading toward some kind of financial downturn territory, mortgage debt is also up (reflecting high prices) while delinquencies and repossessions on credit card and auto-loan debts are also up.

Next Up

Payton Willis

Gophers' rally comes up short, lose to Iowa

The Gophers came back from a 23-point deficit but couldn't complete the comeback.


Firefighters respond to smoke-filled cabin to find man asleep inside

A wood stove was determined to be the cause of the smoke.

snow plow msp airport

MSP snowplow drivers reach contract agreement after threatening strike

Teamsters Local 320 reached an agreement with the Metropolitan Airports Commission Saturday.

Kellen Moore

What you should know about the Vikings' head coach candidates

Seven candidates were revealed on Saturday morning.

20211010_Vikings_Lions_REG05_1119 (2)

What is the next Minnesota Vikings GM inheriting?

A look at the strengths and weaknesses of the Vikings' roster and situation


Man dies after being 'punched in the head' during altercation in Duluth

A 46-year-old man is in custody and facing 1st-degree manslaughter charges.

Deion Sanders

Deion Sanders says Zimmer, Spielman hadn't spoken 'in months'

Sanders' comments revealed some of the Vikings' issues last season.

police tape, crime scene

Brooklyn Park man pleads guilty in 2020 fatal drive-by shooting

Devon Manley will be sentenced to life in prison with the possibility of parole after 30 years.

Screen Shot 2020-06-16 at 7.48.35 AM

Man gets 10 years for fatal pawn shop fire during Minneapolis riots

The incident, which took place during riots in May 2020,  resulted in one man's death.

Rep. Ilhan Omar

Election officials dismiss conservative group's complaint against Rep. Ilhan Omar

The group alleged that she used campaign funds on her future husband's consulting firm.


The Tip Jar: The best cash back credit cards out there

If you're spending, you might as well get something back for it.

The Tip Jar: Why your credit score matters, and how to boost it

Want a mortgage? You'll probably need a solid credit score.

Here's how a major change to a credit score model will affect you

It's good news if you have a history of paying down debt.

Why is everyone talking about Bitcoin?

The cryptocurrency has been making headlines this week.

The Tip Jar: Are air miles credit cards worth it?

And are they better than frequent flyer miles?

Where to score the best deals once Christmas is over

Prices in certain categories are slashed once the holiday is over.

Which food stands accept credit cards at the Minnesota State Fair?

Many food and drink stands don't take cards – but some do.

Which food stands accept credit cards at the Minnesota State Fair?

Many food and drink stands don't take cards – but some do.