Suburban Houston among cities with highest credit scores in Texas

Give credit to the people of The Woodlands. They can boast of having some of the highest credit scores in Texas.

A new study by personal finance website WalletHub shows that the median credit score for a Woodlands resident is 757. Of the 2,572 US cities covered in the study, The Woodlands ranks 287th for cities with the highest median credit score.

FICO, the leading producer of credit scores in the United States, calls 757 a “very good” credit score. On the FICO scale, credit scores range from 300 to 850. A credit score between 740 and 799 is above the US average “and demonstrates to lenders that borrowing is very reliable,” according to FICO.

WalletHub based the study on September 2021 data from TransUnion, one of the top three credit bureaus. In the study, The Villages, a retirement community in Florida, is the only city where the median credit score is above 800 – 806, to be exact.

Two other Houston-area suburbs — Montgomery and Friendswood — ranked among Texas cities for the highest credit scores, with median credit scores of 738 and 732, respectively.

Here are the other top 15 cities in the state:

  • Colleyville (Dallas-Fort Worth), 777, 23rd nationally.
  • Flower Mound, 762, tied for 185th nationally.
  • Coppell (Dallas-Fort Worth), 758, tied for 262nd nationally.
  • The Woodlands (Houston), 757, tied for 287th nationally.
  • Keller (Dallas-Fort Worth), 756, tied for 300th nationally.
  • Allen (Dallas-Fort Worth), 750, tied for 428th nationally.
  • Georgetown (Austin), 749, tied for 446th nationally.
  • Frisco (Dallas-Fort Worth), 748, tied for 467th nationally.
  • Cedar Park (Austin), 743, tied for 568th nationally.
  • Plano (Dallas-Fort Worth), 740, tied for 629th nationally.
  • Montgomery (Houston), 738, tied for 681st nationally.
  • Friendswood (Houston), 732, tied for 784th nationally.
  • Rockwall (Dallas-Fort Worth), 732, tied for 784th nationally.

Of the largest cities in Texas, Austin is the only one where the median credit score exceeds 700. In the capital, the median score is 713, tied for 1,208th nationally. San Antonio is next, at 664 (tied for 2,236th nationally), followed by Houston (662, tied for 2,281st nationally), Dallas (661, tied for 2,299th nationally) and Fort Worth (615 .5, tied for 2545th nationally).

Bad news for Sugar Land, which is the only city in Texas with a median credit score below 600. According to the study, the median score there is 571, which puts it in 2,563rd place nationally. FICO identifies this as a “bad” credit score.

J. Keith Baker, a CPA and certified financial planner who teaches at Dallas College’s North Lake campus in Irving, tells WalletHub that the best way to improve or maintain your credit score is to pay off your card balance in full. credit each month.

“Some people will close a credit card account thinking it will help them manage their spending and protect them from identity theft since they aren’t using an account,” Baker says. “While this may make sense for an individual’s financial situation, don’t assume it will automatically improve your credit scores.”

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