According to a new ranking from WalletHub, residents of California as a whole are average in their credit scores based on data from TransUnion as of October 2022.
From the analysis:
The average credit score for residents of California is 703, which puts the State in the middle of the ranked list. Minnesota is number one, with an average credit score of 724. Mississippi is last, with an average credit score of 662.
Patrick A. Cozza, Executive in Residence and Lecturer, Wealth Management, Silberman College of Business, Fairleigh Dickinson University, notes a common misconception regarding credit scores: