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A typical North Dakota resident has an average FICO® credit score of 730, which is higher than the national average credit score of 714. The state’s average VantageScore® is also strong at 716. Having a strong credit score opens up financial possibilities, such as getting approved for credit cards and securing lower interest rates.
By understanding where North Dakota stands, you can see how your credit profile compares to others in your state and identify areas where you can build your credit. Keep reading to learn more about how credit scores are calculated, why you may have more than one score, and how building your score can help you save money.
Key Points
• The average FICO credit score in North Dakota is 730, which falls into the good credit category.
• Payment history is the single most influential factor in your score, accounting for 35% of your FICO total.
• On-time payments and low credit balances help you build and maintain a strong credit profile, while a money tracker app can help you stay on top of your spending.
• Credit reporting agencies collect borrowing records independently, which can lead to minor variations across your reports.
• Checking your credit reports periodically helps you catch mistakes and detect potential identity theft early.
What Is a Credit Score?
Think of a credit score like a grade for your credit history. This three-digit number ranges from 300 to 850 and represents your creditworthiness based on your overall borrowing habits. Banks, credit card companies, and other lenders check this number to judge how likely you are to pay back borrowed money on time. When your score is higher, you look less risky to lenders, which gives you a better chance of getting approved for auto loans, mortgages, or personal lines of credit.
Pop quiz: Do you know what the starting credit score is? It isn’t zero. You don’t have a credit score until you establish enough credit history for a scoring model to calculate one. Once you have a score, the lowest possible FICO score is 300, but most people start out with a number in the “fair” range (580-669).
Your credit scores are updated when you request them, generally once a month, which is why regular credit score monitoring using a tool such as SoFi Coach can be helpful to keep track of your financial habits.
What Is the Average Credit Score in North Dakota?
In North Dakota, the average FICO credit score is 730, according to data from the credit reporting agency Experian®. A score of 730 is in the upper end of the “good” credit category, which spans from 670-739. The following table breaks down FICO’s different credit categories.
| Credit Category | FICO Score Range |
|---|---|
| Poor | 300-579 |
| Fair | 580-669 |
| Good | 670-739 |
| Very Good | 740-799 |
| Exceptional | 800-850 |
A score around 730 means you can get approved for general financial products. Scores closer to the “very good” or “exceptional” ranges can unlock even better credit card rewards and lower interest rates. While the state average is 730, individual scores vary across North Dakota depending on age, location, and spending habits. Older adults who have managed loans for decades often have higher scores than young adults who are just starting out.
What Is the Average Credit Score in the US?
So what is the average credit score in America? As mentioned above, the average FICO score across the U.S. is 714, while the average national VantageScore is 701. North Dakota’s average score of 730 is notably higher than these national benchmarks.
Regional differences in credit scores are common across the country. States in the Upper Midwest, such as North Dakota, South Dakota, and Minnesota, frequently rank near the top of the nation, whereas states in the South often see average scores hovering in the high 600s. Higher average incomes, low unemployment rates, and lower delinquency rates in the Upper Midwest may contribute to its strong state numbers.
Factors Influencing the Average Credit Score
Credit scoring models look at specific habits on your debt accounts to calculate your number. Both FICO and VantageScore focus on core borrowing behaviors to place you on the 300-850 scale. Here is what affects your credit score:
• Payment history (35%): Paying bills on time is the most influential factor. Missing a single payment can cause your score to drop. Using a budgeting planner or setting up autopay can keep you from missing due dates.
• Amounts owed/credit utilization (30%): This measures how much of your available credit line you are actively using. Using less than 30% of your limit shows lenders you are not overextended. Lowering credit card utilization usually involves paying down your balances, but increasing your limits can also work.
• Length of credit history (15%): Maintaining accounts over a long period demonstrates your reliability to lenders.
• Credit mix (10%): Managing a mix of revolving credit, such as credit cards, and installment accounts, such as auto loans or mortgages, show that you are able to handle different types of lending.
• New credit (10%): Applying for multiple credit accounts in a short period triggers hard inquiries, which can temporarily knock a few points off your score.
How long it takes to build credit can range from months to years, depending on what’s holding down your credit score. Learning how to build credit can pay off by saving you money over the long term.
Recommended: How Much Will My Credit Score Go Up Calculator
Why Do I Have More Than One Credit Score?
Seeing different credit scores when you check your accounts is completely normal. The three major credit reporting agencies in the U.S. are Experian, Equifax, and TransUnion. Lenders do not always report your activity to all three bureaus, so if one bureau is missing an account, your score from that bureau will differ. Free credit score monitoring can help you keep track of your scores across the bureaus and spot changes.
Scoring brands also weigh your habits differently. FICO and VantageScore are the two primary scoring models. Lenders use specific versions of these models depending on the product. An auto lender might look at a FICO auto score, while a mortgage officer might check a classic FICO model.
Where Can I Check My Credit Scores?
Looking up your own credit score is simple, and doing it never hurts your credit standing. If you want to check your credit score without paying, you have several options, including your bank, credit card issuer, and credit counseling agencies. Many financial institutions display a free score inside their mobile app or online banking dashboard.
You can also pull your full credit reports for free every week from AnnualCreditReport.com. This can be a good idea since reviewing your credit reports regularly lets you spot mistakes or unauthorized accounts. You may notice your credit score drop after a dispute. While filing a dispute doesn’t harm your credit, the information it may uncover — such as a missed payment — can impact your profile.
The Takeaway
North Dakota’s average credit score of 730 sits in the good range and beats the national average of 714. These numbers give you a benchmark for comparing your own score. Depending on where you currently stand, you may want to work on developing healthy financial habits, as having a strong credit profile can give you access to loans, lower interest rates, and more favorable terms. Paying every bill on time, keeping your credit card balances low, and checking your credit reports regularly can help you build a solid financial foundation.
Take control of your finances with SoFi Coach. You can easily view all of your accounts in one convenient dashboard: bank and investment balances, current debts, spending breakdowns, and credit score. Easily set up budgets and spot upcoming bills. And get personalized insights on everyday money questions and take action with Coach chat, the AI guide that’s powered by the playbooks of SoFi Financial Planners, so its guidance comes from expert knowledge.
FAQ
What is a good credit score to buy a car in North Dakota?
Auto lenders do not set a universal minimum credit score for car purchases. However, having a VantageScore credit score of 661or higher or a FICO score in the “good” range (670-739) or above can improve your chances of approval and help you secure a lower interest rate. If your score is on the lower side, making a larger down payment can improve your approval chances.
What is a good credit score to buy a house in North Dakota?
The credit score needed to buy a home depends on the loan program. Conventional mortgages generally require a minimum score of 620, while government-backed options, such as FHA loans, have a minimum score of 580 with a 3.5% down payment or 500 with a 10% down payment. Homebuyers with scores of 670 or higher will typically find it easier to qualify across most lenders.
What credit score do most Americans have?
Most Americans hold a credit score in the “good” or “very good” categories. Roughly 70% of consumers across the country have a FICO score of 670 or higher. Only about 15% of consumers fall into the “poor” category below 580.
How rare is a 740 credit score?
A 740 credit score is not rare. Nationally, around 27.4% of consumers hold a score between 740-799. Since North Dakota’s state average is 730, a 740 score shows lenders that you handle debt responsibly.
How rare is an 800 credit score
An 800 credit score is not that rare now. Scores between 800-850 are in the “exceptional” category, and about 22.9% of Americans have a score of 800 or higher. Reaching this level takes years of consistent on-time payments, low utilization, and a long credit history.
How common is a 700 credit score
A 700 credit score is very common. It sits right in the middle of the “good” range (670-739). Because North Dakota’s average score is 730, a 700 score places you in the typical range.
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