ST. LOUIS, MO. (KMOX) – Do you know what your credit score is? If you live in Missouri it might not be what you hope.

According to a new report, Missouri’s credit scores are well below the national average.

Bruce McClary with Clear Point Credit Counseling Solutions said Missouri residents on average are about ten points below the rest of the country receiving an average score of 658.

“658 is not where you’re going to get the better interest rates, so you’re going to be below that thrash hold,” McClary said. People with a credit score of 730 or 740 will get the best interest rates available.

With lower scores, it will cost more to borrow money.  McClary said someone with a credit score of 658 will pay about $140 more per month on a mortgage.

Massachusetts and New Jersey tied for the best credit scores in the nation with an average score of 686.

McClary said other neighboring states are not doing that well, with the exception of Illinois, which is about four-points above the national average.

Copyright KMOX News


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