According to WalletHub, the average credit score in the United States is 701, putting us collectively in the 'good' range.

“The average credit score by state ranges anywhere from 672, which is in the middle of the fair credit range, to 726, which is well into the good credit range. That’s a 54-point difference," said WalletHub analyst Chip Lupo. "Moving to one of the top states may help you increase your own credit score, as they tend to have high average incomes, low unemployment rates and other positive economic factors that make it easier for residents to pay their creditors on time and limit their borrowing.”

When it comes to individual states, Minnesota is at the top of the list with a credit score of 726. That score places Minnesota toward the top end of the 'good' credit range and is only 24 points away from 'excellent.'

While several factors go into the Land of 10,000 Lakes having such an excellent credit score, the main ones according to WalletHub were Minnesota's great job opportunities, the eighth-highest average income in the USA and a comparatively slower rate of credit card debt increase compared to the rest of the country.

WalletHub's study also indicates that Minnesota's score may continue to rise based on relatively lower rates of credit delinquencies and general financial distress.

Rounding out the top five (in order) were New Hampshire (723), Vermont (722), Wisconsin (720) and South Dakota (718). The bottom five were Mississippi (672), Louisiana (677), Alabama (680), Texas(680) and Georgia (682).

See Minnesota's State Bird like you've never seen it before -- through the lens of Canadian photographer Chris Whitty

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