CFED Scorecard

CFED Assets & Opportunity Scorecard

Financial Assets & Income
Consumers with Prime Credit
Definition

Percentage of credit users with an Equifax Risk Score above 720 (on a scale of 280-850), Quarter 4, 2014. Credit users are defined as adults over the age of 18 with a credit file and a credit score with Equifax.

Description

Credit is an important asset, and good credit opens the door to safe and affordable capital, which helps consumers weather emergencies, build assets and climb the economic ladder. Without prime, or good, credit scores, consumers pay higher interest rates than other consumers on everything from credit cards to car loans to mortgages. Credit scores also play a major role in setting home and auto insurance premiums.

For more information and data on credit behavior and the credit economy, including data at the county level and a further break down of credit scores into subprime and near prime rates, see the Federal Reserve Bank of New York’s interactive data tool, Community Credit: A New Perspective on America's Communities.       

48.9% of United States credit users have prime credit

Consumers with Prime Credit, Quarter 4, 2014

StatePercent of Credit Users
with Prime Credit (%)
Rank
United States 48.9%
Alabama 40.7% 45
Alaska 52.5% 23
Arizona 45.7% 36
Arkansas 43.2% 42
California 50.1% 28
Colorado 55.8% 15
Connecticut 56.2% 13
Delaware 49.5% 30
District of Columbia 49.1% 35
Florida 43.0% 43
Georgia 38.1% 50
Hawaii 56.9% 11
Idaho 52.4% 24
Illinois 51.2% 27
Indiana 49.2% 34
Iowa 57.2% 7
Kansas 53.8% 20
Kentucky 45.4% 38
Louisiana 39.2% 49
Maine 55.0% 18
Maryland 49.5% 30
Massachusetts 57.2% 7
Michigan 49.5% 30
Minnesota 59.4% 3
Mississippi 35.0% 51
Missouri 49.3% 33
Montana 57.0% 10
Nebraska 57.3% 6
Nevada 39.4% 48
New Hampshire 57.2% 7
New Jersey 53.8% 20
New Mexico 43.9% 40
New York 53.0% 22
North Carolina 44.8% 39
North Dakota 59.3% 4
Ohio 50.1% 28
Oklahoma 42.8% 44
Oregon 54.6% 19
Pennsylvania 55.2% 17
Rhode Island 52.2% 25
South Carolina 40.4% 46
South Dakota 59.1% 5
Tennessee 43.6% 41
Texas 40.1% 47
Utah 55.6% 16
Vermont 59.8% 1
Virginia 51.4% 26
Washington 56.4% 12
West Virginia 45.7% 36
Wisconsin 59.7% 2
Wyoming 56.1% 14

Change in Consumers with Prime Credit

Consumers with Prime Credit (%)
StateQ4 2005Q4 2006Q4 2007Q4 2008Q4 2009Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014
United States 47.0% 47.5% 48.0% 48.6% 48.6% 48.3% 48.4% 48.8% 48.3% 48.9%
Alabama 37.8% 38.5% 39.2% 40.3% 40.7% 41.0% 40.9% 41.1% 40.4% 40.7%
Alaska 45.5% 46.0% 47.3% 48.4% 48.8% 49.2% 49.4% 50.7% 51.1% 52.5%
Arizona 47.0% 47.7% 47.9% 47.5% 46.4% 45.4% 45.1% 45.0% 44.8% 45.7%
Arkansas 39.6% 39.9% 41.5% 41.9% 42.5% 42.5% 42.8% 43.4% 42.8% 43.2%
California 49.1% 49.7% 49.9% 49.9% 49.0% 48.3% 48.5% 49.0% 48.7% 50.1%
Colorado 53.5% 54.0% 54.7% 54.9% 55.0% 54.5% 54.6% 55.1% 54.9% 55.8%
Connecticut 53.4% 54.0% 54.4% 55.2% 56.8% 56.3% 56.2% 56.5% 55.5% 56.2%
Delaware 48.5% 48.9% 49.0% 49.4% 49.7% 49.1% 48.8% 49.2% 48.9% 49.5%
District of Columbia 41.3% 41.9% 42.9% 44.6% 45.6% 46.4% 46.9% 47.9% 48.0% 49.1%
Florida 43.4% 43.9% 44.3% 44.3% 43.8% 43.1% 42.8% 42.6% 42.2% 43.0%
Georgia 36.8% 37.0% 37.7% 38.4% 38.5% 38.2% 38.1% 38.2% 37.6% 38.1%
Hawaii 52.5% 53.0% 53.9% 54.9% 55.0% 55.2% 55.7% 56.3% 56.4% 56.9%
Idaho 49.8% 50.6% 51.7% 52.2% 52.2% 51.9% 52.0% 52.3% 51.9% 52.4%
Illinois 49.7% 50.5% 51.1% 51.6% 51.7% 51.2% 51.1% 52.2% 50.9% 51.2%
Indiana 47.3% 47.7% 48.2% 48.9% 49.1% 49.0% 49.0% 49.3% 48.7% 49.2%
Iowa 53.9% 54.2% 55.1% 55.9% 56.2% 56.2% 56.4% 57.0% 56.7% 57.2%
Kansas 50.2% 50.5% 51.4% 52.2% 53.0% 53.1% 53.4% 54.1% 53.3% 53.8%
Kentucky 43.6% 44.0% 44.9% 45.5% 45.7% 45.5% 45.6% 45.9% 45.2% 45.4%
Louisiana 35.0% 35.5% 36.8% 37.2% 38.0% 38.2% 38.7% 39.0% 38.8% 39.2%
Maine 53.5% 53.8% 54.3% 55.3% 55.5% 55.2% 55.2% 55.8% 54.4% 55.0%
Maryland 48.0% 48.6% 49.2% 49.8% 49.9% 49.5% 49.4% 49.7% 49.0% 49.5%
Massachusetts 56.5% 56.5% 56.8% 57.2% 57.2% 56.6% 56.7% 57.1% 56.3% 57.2%
Michigan 50.6% 50.8% 50.4% 50.5% 50.1% 49.3% 49.1% 49.3% 48.8% 49.5%
Minnesota 57.8% 58.4% 58.8% 59.2% 59.2% 58.8% 58.9% 59.2% 58.7% 59.4%
Mississippi 32.1% 32.4% 33.6% 34.3% 34.6% 34.8% 34.9% 35.1% 34.7% 35.0%
Missouri 47.2% 47.6% 48.1% 48.7% 49.0% 48.9% 48.9% 49.1% 48.8% 49.3%
Montana 52.4% 52.9% 53.6% 54.4% 54.9% 55.1% 55.6% 56.3% 56.1% 57.0%
Nebraska 53.9% 54.0% 54.7% 55.5% 56.3% 56.1% 56.7% 57.1% 56.7% 57.3%
Nevada 40.5% 41.1% 41.4% 41.0% 39.5% 38.4% 38.2% 38.1% 38.3% 39.4%
New Hampshire 55.7% 55.8% 56.2% 57.0% 57.0% 56.7% 56.8% 57.1% 56.4% 57.2%
New Jersey 54.2% 54.2% 54.9% 55.3% 55.0% 54.4% 54.1% 54.5% 53.6% 53.8%
New Mexico 41.0% 41.5% 42.1% 42.8% 43.1% 43.1% 43.4% 43.7% 43.2% 43.9%
New York 49.8% 50.1% 50.8% 51.7% 52.0% 51.9% 52.2% 52.9% 52.6% 53.0%
North Carolina 41.4% 41.9% 42.7% 43.7% 44.4% 44.6% 44.9% 45.2% 44.7% 44.8%
North Dakota 55.5% 55.9% 56.8% 57.7% 58.6% 58.6% 59.2% 59.6% 58.9% 59.3%
Ohio 49.1% 49.4% 49.9% 50.4% 50.5% 50.2% 50.2% 50.4% 49.8% 50.1%
Oklahoma 39.7% 40.1% 40.8% 41.5% 42.2% 42.1% 42.3% 42.7% 42.4% 42.8%
Oregon 51.2% 52.2% 53.1% 53.9% 54.0% 53.8% 53.9% 53.9% 53.6% 54.6%
Pennsylvania 53.7% 53.5% 53.9% 54.8% 55.1% 54.8% 54.9% 55.4% 54.8% 55.2%
Rhode Island 52.0% 52.3% 52.3% 52.6% 53.1% 52.6% 52.3% 52.6% 51.6% 52.2%
South Carolina 36.9% 37.3% 38.2% 39.4% 39.9% 40.1% 40.3% 40.4% 40.0% 40.4%
South Dakota 53.5% 54.3% 54.8% 55.8% 56.4% 56.8% 58.0% 58.5% 58.1% 59.1%
Tennessee 40.9% 41.4% 42.3% 43.1% 43.4% 43.5% 43.5% 43.7% 43.1% 43.6%
Texas 35.2% 35.7% 36.4% 37.4% 38.2% 38.2% 38.8% 39.6% 39.4% 40.1%
Utah 50.7% 51.1% 52.3% 53.2% 53.3% 53.4% 53.9% 54.7% 54.5% 55.6%
Vermont 56.1% 56.6% 57.3% 58.9% 59.2% 59.1% 59.4% 59.8% 59.3% 59.8%
Virginia 48.4% 49.0% 49.8% 50.6% 51.0% 50.8% 50.9% 51.5% 50.9% 51.4%
Washington 52.6% 53.5% 54.6% 55.4% 55.5% 55.4% 55.5% 56.0% 55.5% 56.4%
West Virginia 44.1% 43.5% 44.3% 44.9% 45.5% 45.9% 45.6% 45.6% 45.3% 45.7%
Wisconsin 58.7% 58.9% 59.4% 59.9% 60.1% 59.7% 59.9% 60.2% 59.3% 59.7%
Wyoming 50.3% 51.1% 51.6% 52.3% 53.2% 53.4% 54.3% 55.0% 55.2% 56.1%

Definition

Percentage of credit users with an Equifax Risk Score above 720 (on a scale of 280-850), Quarter 4, 2014. Credit users are defined as adults over the age of 18 with a credit file and a credit score with Equifax.

Source

Community Credit: A New Perspective on America’s Communities. Source: The New York Fed Consumer Credit Panel/Equifax. New York: Federal Reserve Bank of New York, 2015.

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