MONEY: Give Minnesotans the Great Credit We’ve Earned
We should be busy stocking up on firewood and food for the winter months ahead. Salting and drying meats, foraging for berries and herbs, and deciding which of our 17 children will most likely survive the winter.
But instead we work, pay taxes, and are subject to credit scores. But at least we have grocery stores and indoor plumbing!
Minnesota consistently ranks as one of the best states to live in. We have a good economy, decent affordability, and a pretty good quality of life...overall.
It turns out that Minnesota is also tops in the country when it comes to those pesky credit scores.
Where Do Minnesotans' FICO Scores Rank?
The average U.S. citizen has a FICO score of 718, which lands them in the "good" credit category. Minnesotans average a FICO score of 742, putting us in the "very good" category and #1 in the nation. Mississippi is #50 at 680.
Other FICO stats show that the "Silent Generation" (age 77+) has the highest average credit score at 761. Generation Z is (not shockingly) the lowest at 680.
The higher your credit score, the gooder deals you'll get borrowing money from banks and credit cards, and even from insurance companies. A higher score makes it easier to rent an apartment.
As much as I love indoor plumbing, I also love the idea of Current Choad not being financially punished for Young Dumb Choad. Alas, at this point we'll have to wait for the apocalypse to go back to our cave-dwelling old ways.
H/T: Business Insider
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Gallery Credit: Jessica On The Radio