Consumer Credit Score

Description: FICO (The Fair Issac Corporation) is a publicly-traded corporation that created the best-known and most widely used credit score model in the United States. The FICO score is calculated statistically, with information from a consumer‘s credit files. The FICO score is primarily used in credit decisions made by banks and other providers of secured and unsecured credit. It provides a snapshot of risk that banks and other institutions use to help make lending decisions. A FICO score is between 300 and 850, a higher score means a lower credit risk. A score in the 700s or higher is excellent, around 650 is a midrange score, and anything lower than 600 has room for improvement.

In the United States, a resident is permitted by law to view their credit report once a year at no charge by visiting this website . The individual‘s “credit score” information is available for an additional fee from each of the three credit reporting agencies.

The U.S. average credit score is 692. There are 32 states that have an average credit score above the national average and Illinois is one of them. The average credit score of consumers in the state of Illinois is 699.

The following scores are from April 2011:

  • Champaign-Springfield-Decatur 704
  • Illinois 699
  • East North Central Region 698
  • United States 692

Emperian National Score Index

Date Last Revisited: 04/20/2011