Credit Repair

Is 728 A Good Credit Score – US Average Credit Score Hits New RECORD HIGH


Is 728 A Good Credit Score – How to Choose

Hey credit warriors, Credit Shifu here and the average US consumer’s credit score has increased quite significantly since figures for the last complete year 2019, were reported. So back in 2019 the average US credit score was 703, now that is actually very good but it would have been pushed higher somewhat by the large number of older people in the population who tend to have higher credit scores. So many people in their 20s and 30s were quite a lot lower than that. These are the credit score ranges as of 2019, you can see millennials and generation z are still averaging only in the 600s.

But crazily after the Coronavirus pandemic of 2020 and all the lockdowns and things that happened, the average credit score actually increased. You would think it would be the opposite, but no, maybe because of all the stimulus or people cutting back and being sensible with their spending because of the uncertainty. And OK, I know you are waiting to find out what the average credit score is, I’m not going to make you wait ages, sit through an ad to find out. I’ll just tell you. According to credit bureau Experian, who released their consumer credit report review for 2020, the average credit score is a whopping 710. An increase of 7 points since 2019, and that is the largest annual improvement in the last decade.

Credit scores have actually increased for all age groups, with millennials seeing the largest increase of 11 points. Although to be fair, if you are a boomer or the silent generation, you could have increased by as little as 1 point, but when you are already at 757 it is hard to increase by a lot.

Now in a minute I’ll tell you which states had the best and worst credit scores, but first of all why did everyone’s scores increase? Well Experian says it is because of a drop in credit utilization and delinquency. A drop in utilization would just show people are being more careful with their spending, the average credit card balance dropped from $6,941 to $5,315. I know all about how utilization affects credit scores, remember this video? I maxed out my card and it dropped my score by 60 points! So lowering utilization really helps.

But also on the delinquency side, the CARES act did bring in some regulations where if you made a modified payment plan for certain debts with your creditor you could get out of accounts being reported delinquent.

Ok now let’s go through the states with the highest credit scores in the nation:

Minnesota: 739 (9th year in a row)
Wisconsin: 732
South Dakota: 731
Vermont: 731
North Dakota: 730
Washington: 730
Massachusetts: 729
New Hampshire: 729
Nebraska: 728
Hawaii: 727

And the 10 lowest:

Mississippi: 675
Louisiana: 684
Alabama: 686
Texas: 688
Georgia: 689
South Carolina: 689
Arkansas: 690
Oklahoma: 690
New Mexico: 694
Nevada: 695

And even though we just showed you the lowest states, it is worth noting that all states saw an increase in their scores. Then there are just a few final points from the report that you may find interesting, mortgage debt grew by 2%. I think this was due to the extremely low rates that we have had throughout 2020. People are taking advantage of it to buy new homes and to cash out refinance.

Auto loans stayed steady and personal loan growth slowed, the only thing that did increase was student debt.

Guys what happened to your credit score in 2020? Let me know in the comments below. Personally I have been pretty steady in the mid 700s. I am looking to break into the 800 club this year. I am also thinking of applying for one new card and a loan for a project I am working on, so I am not sure if I can do it, but I am going to try and I will report the results to you guys. Please subscribe if you are new and I will see you next time. Bye bye.

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  1. Intellectual Tarot
    July 27, 2021 at 1:34 am

    Mississippi is the poorest state so that makes sense.

  2. Alan Hui
    July 27, 2021 at 1:34 am

    In real estate I usually see credit scores usually around the mid 500s to low 600s. 😒

  3. Tom Sramek, Jr.
    July 27, 2021 at 1:34 am

    Or taking cash out of your house to pay off consumer debt……

  4. Bobby Boy
    July 27, 2021 at 1:34 am

    "After the cornavirus pandemic" It's still on-going.

  5. Patrick Wilson
    July 27, 2021 at 1:34 am

    🏖Hawaii 727…🍍 That's where I was born/from, I live for now, in Indianapolis,Indiana.🏀🏞 🌃
    CREDIT SCORE 661 and going up every month, because I didn't use the UTILIZATION RATIO. WAS ALWAYS PAYING THE FULL BALANCE OFF NEVER LEAVING A 2-7%…30% of your score, any type of credit..
    Aloha!!!!!🌈 I'M MOVING BACK TO HAWAII🏝…Mahalo…🍍🥥🇺🇲🥝🌈

  6. Beige Machine
    July 27, 2021 at 1:34 am

    I never see Experian Scores. Do they even matter?

  7. Beige Machine
    July 27, 2021 at 1:34 am

    My TransUnion always shows higher than the others. Which score matters most, Transunion, Equifax or FICO?

  8. Sergio Olmos
    July 27, 2021 at 1:34 am

    Gen X, in Southern California 785

  9. NineSeven 420 Empire
    July 27, 2021 at 1:34 am

    My score has been over 800 for the majority of the last few years. If you live within your means, it should not be hard to have a good score if you work on it.🤗

  10. Iphrain Vega
    July 27, 2021 at 1:34 am

    Thanks to you and Grahaam, I went from about 650 or so, to 733 in 4 months!

  11. Chrochet Fan
    July 27, 2021 at 1:34 am

    I’m 19 and my score is 720(Experian) Got a credit card as soon as I was 18! Always paid balances in full + more

  12. David Mason
    July 27, 2021 at 1:34 am

    My score in 2019 was 512. I worked on it throughout 2020 and when I checked it first day 2021 it was 743.

  13. Zach Chadwick
    July 27, 2021 at 1:34 am

    Early 2019, my credit score was 428. It's currently at 698.

  14. asystejs
    July 27, 2021 at 1:34 am

    at 3:19 Dyslexia Strikes Back !

  15. weerobot
    July 27, 2021 at 1:34 am

    Might be a Delay in Scores…but still Some good News…lol

  16. Buckshot00fan
    July 27, 2021 at 1:34 am

    Mike from The Credit Game promised he would single-handedly do this…take it for what it's worth.

  17. Apex Avenger
    July 27, 2021 at 1:34 am

    3:15 765 in Mississippi… I know where I’m moving😂

  18. z m
    July 27, 2021 at 1:34 am

    Do you condemn the evil act caused by trump supporters like you yesterday?

  19. karibee88
    July 27, 2021 at 1:34 am

    I spent all of 2020 over 800 for the first time! However, I just applied for a refinance on my condo, so it might dip for the start of 2021. We’ll see!

  20. Aviantei
    July 27, 2021 at 1:34 am

    You look like about to mug me on the subway

  21. Elso
    July 27, 2021 at 1:34 am

    I will not continue to support your content of you do not come out and condemn the recent terrorist attacks on the United States Capital. I've seen your Twitter feed (translated from Mandarin) and I'm disgusted that after everything that has happened you will still support the President. I hope more people will do the same and join me in denouncing domestic terrorism.

  22. Chris2007a A
    July 27, 2021 at 1:34 am

    According to the chart I’m 60+ of age.

  23. Chris Kasprzyk
    July 27, 2021 at 1:34 am

    Probably should clarify exactly which credit score is being talked about. Since you showed a FICO graphic I guess it was one of theirs, however they have a ton of different models they calculate for different purposes which can vary pretty drastically between the models. It is also interesting that the same model can vary drastically depending on exactly which bureau they are using for the modeling data. I did a refi a few months ago and my scores using the FICO mortgage model were 804, 799, and 755. The strange lowball outlier was based on TransUnion, and yet the exact same month my standard FICO Score 8 based on TransUnion was 821. WTF?

    I and my wife have been in the 800's for quite some time and my kids are on the way. And we have achieved those scores even after a medically induced bankruptcy about 15 years ago. I wanted to make sure that my wife was not screwed by not having a solid credit history if something happened to me so made sure to spend as much time rebuilding hers as I did mine. As a parent I wanted to do everything I could to teach my kids about surviving in the real world, and like it or not that means teaching them about money and finance. Parents, you need to drop the nonsense and talk to your kids about money. Where it comes from and where it goes and how things like your credit score are so vitally important since they affect everything from interest rates to insurance rates.

    My oldest just turned 21 and has had a 700+ FICO score since she turned 18 and was able to have one. I put her on some of my accounts as an authorized user starting at around age 13 when most issuers allow it, including a couple AMEX which report directly using her specific SSN. She has been able to maintain and increase her score (she has been mostly in the 750-775 range for the last 18 months or so) and has her own individual credit cards and even bought her own vehicle a little over a year ago with no cosigner and qualified for the prime rate from our credit union which was around 2% – 2.5% or so at the time.

  24. Joshua Edgington
    July 27, 2021 at 1:34 am

    Over 2020 I have been able to increase my score from I think 618 to 702 Experian FICO and from 645 TransUnion vantage to 750. I hate how this pandemic has affected the world and my work life. However, it has done wonders for my financial mindset

  25. Jorge Rodriguez
    July 27, 2021 at 1:34 am


  26. Javier Cruz
    July 27, 2021 at 1:34 am

    I got 787 how can I crack 800 every account I have is paid off

  27. Janal Stanza
    July 27, 2021 at 1:34 am

    I'm about 748 paid off a bunch of debt and a personal loan (ironically having the loan increased my score hahha) now that it's paid off it closed

  28. Jonathan Serrano
    July 27, 2021 at 1:34 am

    I'm 21 and my credit score falls in the range of the 60+ group. I got my first credit card when I was 18.

  29. J. R.
    July 27, 2021 at 1:34 am

    My fico with discover is 842 and fico on American express is 847 still trying to get at least 850 once.

  30. John Campbell
    July 27, 2021 at 1:34 am

    Freedom- an ode to Wham! ???

  31. LaBounti
    July 27, 2021 at 1:34 am

    I was steady 715 last year, got two new cards dropped me to 727. Bankruptcy will fall off in October this year. I expect big things to happen.

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  38. DoubleQz
    July 27, 2021 at 1:34 am

    My is score went up 100+ points from 645 to 750.

  39. David Mayden
    July 27, 2021 at 1:34 am

    Hovering around 824. Trying to keep in that range as I’m thinking of buying a house to live in and one to rent out. I’m score was pretty low most of my life, went way up when I started the credit card travel points game.

  40. Daniel Matas
    July 27, 2021 at 1:34 am

    Through your videos and learning about credit and credit scores I went up 90pts and am at 777 fico 8 score

  41. Vi Truong
    July 27, 2021 at 1:34 am

    I am 25 and mine is 758, I dont have loans or mortgages tho

  42. Insane Supercars
    July 27, 2021 at 1:34 am

    When I was working at a car dealership the average credit score was 500-599 😅

  43. Pepi
    July 27, 2021 at 1:34 am

    It went down 20 points because of a shady auto dealer currently looking for a service to assist lol
    Score is still really healthy