Knowing the average credit score by age in the U.S. can be a valuable benchmark to help you understand your financial health and identify areas for improvement. Young adults aged 18-24 often are just beginning to build their credit, so it’s common to see lower scores due to limited credit history. As you move into the 25-34 age range, the average score increases, reflecting a bit more financial experience and stability.
Individuals aged 35-44 generally see their scores rise continually until they reach the 45-54 age range. Seniors aged 65 and older often boast the highest average credit scores, benefiting from a long history of credit use and usually lower debt levels.
In this article, we’ll break down the average credit scores by age in the U.S. and explain how it influences credit scores. If you see that you haven’t met the average credit score according to your age, then don’t lose hope, as this article also includes tips on how you can change your situation.
Average Credit Scores by Age in the U.S.
There isn’t a single average credit score for every age because multiple credit scoring models may be used. However, here are the averages for the two most widely used models, FICO and VantageScore.
Based on the FICO Score
Your FICO credit score is calculated based on factors including payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%). Here’s the breakdown of the average FICO 8 scores by age in the U.S. based on Experian as of the third quarter of 2023:
| Age Range | Average Credit Score |
| 18 to 26 | 680 |
| 27 to 42 | 690 |
| 43 to 58 | 709 |
| 59 to 77 | 745 |
| 78+ | 760 |
Based on this table, the average credit score by age 21 is 680, while the average credit score by age 30 is 690.
Based on the VantageScore
Your VantageScore credit score is calculated based on the following factors: payment history (41%), depth of the credit (20%), credit utilization (20%), recent credit (11%), balances (6%), and available credit (2%). Here’s the breakdown of the average VantageScore by age range in the U.S. as of March 2024:
| Age Range | Average Credit Score |
| 18 to 27 | 665 |
| 28 to 43 | 687 |
| 44 to 59 | 710 |
| 60 to 78 | 746 |
| 79 to 96 | 750 |
Based on this table, the average credit score by age 22 is 665, while the average credit score by age 35 is 687.
While age isn’t directly factored into credit scores, there’s a clear trend of scores improving as people get older. These may be due to the following reasons:
- Longer credit histories: Older adults have longer credit histories, which positively impacts scores.
- Credit mix: A diverse mix of credit types, like credit cards, mortgages, and loans, benefits scores. Older people often have a more varied credit portfolio.
- Payment history: Consistent on-time payments over the years significantly boost scores.
Nevertheless, according to the “Financing the Future” report by OpenLending and TransUnion, Gen Z and millennials are advancing to higher credit tiers more quickly than older generations.
What is a Good Credit Score by Age?
Regardless of age, a good credit score is typically within the 670 to 739 range according to FICO, and 661 to 780 for VantageScore. Consider your score in good shape if it’s above the average for your age group. For example, if you are 25 years old, a credit score above 680 is considered good, as the average credit score by age 25 is 680. If you are 50 years old, a score above 710 is considered good, as the average credit score by age 50 is 710.
By understanding these trends and following good credit practices, you can work towards a good credit score, which can lead to better financial opportunities and lower borrowing costs.
Tips for Achieving a Good Credit Score
Getting a good credit score involves consistent and prudent financial habits. Here are some key tips for achieving and sustaining a good credit score:
- Pay on time: Making timely payments on all of your bills and credit accounts is crucial for maintaining a good credit score. Late payments can significantly impact your credit score and may lead to additional fees or interest charges. Setting up automatic payments or reminders can help ensure that you never miss a due date.
- Keep balances low: Maintaining low balances relative to your credit limits demonstrates responsible credit management and can positively impact your credit score. High credit utilization, or maxing out your credit cards, can be seen as a red flag to lenders and may lower your credit score. Aim to keep your credit card balances below 30% of your credit limit to improve your creditworthiness.
- Monitor your credit reports: It’s important to regularly check your credit reports for any errors or suspicious activity. Monitoring your credit reports can help you identify and dispute inaccuracies promptly, preventing potential damage to your credit score. You can access free credit reports from the major credit bureaus annually to stay informed about your credit standing.
Another tip to achieve a good credit score is to utilize a financial management app like Cushion. This app ensures your successful bills, subscriptions, and Buy Now Pay Later payments are reported to credit bureaus every month. By using Cushion’s virtual card for your regular payments, you can easily maintain a positive payment history. Start leveraging your everyday expenses to boost your credit score with Cushion today.
Frequently Asked Questions (FAQs)
How rare is an 800 credit score?
An 800 credit score is more common than you think. It falls within the “Exceptional” range, which includes scores from 800 to 850. According to Experian, 21% of consumers have FICO scores in this range. An 800 score indicates excellent credit management and makes receiving new credit approval easier.
Is 750 a good credit score for a 20-year-old?
Yes, a 750 credit score is very good for a 20-year-old, given that the average credit score for the 18 to 26-year-old age group is 680, based on FICO.
What age should you have a 700 credit score?
It is ideal to have a credit score of 700 or higher by the age of 43 to 58, based on the average credit scores for that age range in the U.S.
Summary
Knowing the average credit score in America by age is essential for evaluating your own credit health and planning for the future. While credit scoring models don’t factor in age directly, there is a clear correlation between age and credit scores, with scores generally improving as you get older due to factors such as longer credit histories and a diverse credit mix. By knowing how age influences credit scores, you can take proactive steps to improve your credit standing.
