The average credit score in the city of Omaha is 682. The city ranks #10 in a list of large cities when it comes to high credit scores. San Francisco is #1 with an average credit score of 712.
Jill Gonzalez, Senior Analyst at Wallet Hub, says the report looked at several criteria including income level and debt-to-income ratio of the typical resident in each city.
Gonzalez says the average credit score across the nation is 669 which is considered fair credit.
A score above 700 denotes good credit while 750 or above is excellent.
Gonzalez says knowing your credit score is the first step to gaining good credit.
She says it’s important to understand that paying your bill on time and good credit utilization both pay a huge part in your credit score.
"You should be using about 30% or less of any of your credit lines. 30-50% if you’re being generous. Anything above that, you know really maxing out your credit limit from month to month will not reflect well on your score. So if you’re buying a lot of things, using those credit lines right before a major purchase, you’ll actually see a little bit of a drop in your score before you apply for that mortgage.”
And Gonzalez says that’s not all. She says your interest rate will also be higher because your credit-worthiness wasn’t at its prime when you were applying.
For more information on ways you can improve your credit score, see myfico.com.