AVERAGE CREDIT SCORE BY AGE: What You Need to Know About Each Age

Average Credit Score By Age
Image Credit: CNN

In the United States, everyone understands the need to keep and maintain a healthy credit score. In fact, we all want a high credit score because of its benefits when it comes to taking loans. The general rule for a healthy credit report is simply to start early. The national averages for FICO® and VantageScore 3.0® are 673 and 695, respectively. You can evaluate your own financial status by knowing your score, irrespective of your age. Knowing your creditworthiness in comparison to others in your demographic or area will help you determine where you are financially and where you want to be. Let’s take a closer look at how you might contrast your credit score with other age brackets, such as 18, 25, and 30. The aim is actually to maintain a healthy credit report.

Average Credit Score by Age

Credit ratings have risen steadily during the preceding ten years. The fact that older Americans continue to perform better than younger Americans on average, with each generation exceeding the one before it, is one thing that hasn’t changed. People of a younger age are meant to have a healthy credit score since they have fewer responsibilities. Unfortunately, the statistic proves it isn’t so. The following is a collection of the most recent statistics.

How Credit Scores Are Calculated?

The first thing to understand about credit scores is that different scoring models are available. The most common credit score is the FICO 8, which is tracked by all three credit reporting agencies and used by most lenders. The FICO 8 scores, which range from 300 to 850, are determined using the five weighted factors listed below.

#1. Payment Background

The most significant impact comes from this one factor, which makes up 35% of your final score. It keeps track of how frequently you have made late or on-time payments.

#2. Using Credit

Credit utilization makes up 30% of your overall score and analyzes how much of your available credit you are using at any given time. In other words, how much debt do you have in relation to your available credit lines? Lower use rates are ideal for your score.

#3. The Length of Credit History

This element’s weighting, at 15%, is somewhat lower. However, increasing your score means having a longer credit history—a few decades as opposed to only a few years. Due in part to this, older clients often have better credit scores.

#4. New Credit Inquiries

Your score could be lowered if you frequently applied for new credit over the past two years. This factor is far less important than the others even though it makes up 10% of your total score.

#5. Credit Fusion

Similar to this, 10% of your score is based on how well you manage different credit types, like installment loans like a mortgage or auto loans secured by credit cards.

Average Credit Score by Age 18

Interested in learning how to build credit at the age of 18? From information on how to build credit to suggestions on how to keep a high score, we’ve got you covered. For more information, keep reading.

Opening a Credit Account at Age 18

Turning 18 is one of those crucial life transitions. Now that you are an adult, you are eligible to vote and apply for your first credit card. That’s great, isn’t it? Where do you begin when you frequently require credit in order to obtain credit, which is a problem?

Why is it important for you to understand credit building?

The most fundamental method for prospective lenders to assess your reliability is through your credit scores, which are based on your prior spending patterns. More than that, your credit score will impact nearly every significant purchase you make throughout your adult life. This encompasses anything from filling out employment applications to making a home or car purchases. Therefore, you must be aware of how to build and maintain a solid credit history.

Improving Credit Score at Age 18

If you’re 18 and want to build your credit, good for you. This is the first critical step to achieving financial security. Fortunately, there are some simple rules you can adhere to to make sure that you get off to a good start.

What is the Average Credit Score of Someone Age 18?

The average credit score of 18-year-olds is 631. Maintaining a healthy credit score is ideal for someone age 18, because, you’re just starting out in your career and you wouldn’t want to begin with a bad credit record.

Get a Secured Credit Card

While seeming identical, a secured credit card differs significantly from a regular credit card in that it requires an upfront, refundable deposit, often between $200 and $2,000, which will function as your credit limit. If you ever miss a payment, the lender just takes the amount out of your deposit.

To avoid paying additional interest fees and to create credit as quickly as possible, be sure to pay off your entire account each month. Once your score is in the mid-600s or higher, you are eligible to apply for a regular, unsecured credit card.

If the financial institution doesn’t disclose account activity to the credit bureaus, you won’t be able to use this.

Average Credit Score by Age 25

Even while credit scores can differ, the ideal credit score for those under the age of 25 is very close to 660. A score of 660 is considered “fair” by the FICO scoring algorithm. What does that therefore imply?

People between the age bracket of 25 and 29, living in predominantly black neighborhoods, have a median credit score of $582, followed by those living in predominantly Hispanic neighborhoods with a median credit score of $644 and those living in predominantly white neighborhoods with a median credit score of $687.

Subprime borrowers are those with credit scores below 600, which makes it more difficult for them to get credit at affordable rates and more probable that they will use pricey credit, such as payday loans, which can lead to debt cycles and further harm credit ratings.

Average Credit Score by Age 30

Living in a major city may make owning a car impractical, but housing costs are soaring, and the only thing being reported to the credit bureaus is a single or two credit cards. A 30-year-old living in the suburbs, on the other hand, might have had several auto loans and a mortgage over the past ten years, which helped her develop credit.

But if we’re talking about averages, a study by Experian, one of the three major credit bureaus, shows that the average credit score for people between the age bracket of 30 and 39 is 673. This outcome is thought to be “excellent.” In contrast to the average score for those in their 20s, which is 662, the average score for those in their 40s is 684, which is only marginally higher than 662. The average score for those 60 and older was the highest, coming in at 749.

Credit ratings frequently increase with age. Due to the fact that two crucial factors that have a long-term impact on your credit are: FICO, a well-known credit scoring algorithm, which states that 15% of your credit history and 35% of the length of your credit history make up your score. Think of doing this as allowing your credit score to gradually increase.

What is the Average 30-Year-Olds Credit Score?

The typical credit score for people at the age of 30 is 672. You might already have a ten-year credit history, many credit lines, and a variety of credit products, such as a car loan.

Average Credit Score by Age and Gender

Credit scores are used to determine consumer dependability. This is calculated using a variety of credit score algorithms, although the Fair Isaac Corporation (FICO) rating is the most commonly used one. Here is the comparability between credit scores by age and gender: 

Credit Score By Gender 

There is a gender imbalance in the lending industry that favors men. Regardless of income, from $35,000 to over $150,000, men and women frequently have credit ratings that differ by twelve points. The difference persists even when age categories are taken into account. The gap in scores grows as earning capacity increases with age.

  • Men often have a higher credit score than women do. There is a 12-point median difference in scores between the sexes.
  • Even though other factors may also affect the difference in credit ratings between the sexes, the higher average wages of men tip the scales in their favor, resulting in more borrowing capacity and better credit scores for men.
  • Single women utilized debt more frequently, had credit records that were longer, used credit revolvers more frequently, and had larger installment loan amounts, it was found. Contrarily, men are more likely to file for bankruptcy.
  • A person’s credit score may indicate how long their marriage will last. A Federal Reserve study found that couples that began with nearly equal credit scores had a better probability of remaining together.

Credit Scores Based On Age

Age and higher scores are strongly associated. Even though they might not necessarily have more money, older adults have higher credit scores generally due to their expenses and life experiences.

  • The 60+ age group has the highest average credit score of any age group, 749, but this isn’t because they have more money; rather, it’s because they have a more stable lifestyle and have accumulated more major purchases in the past, like a home, car, or higher education, in addition to having a more stable lifestyle.
  • The age group between 50 and 59 has the closest average credit score to the US average of 703, at 706.
  • American men between the ages of 21 and 40 who are single have better credit ratings than women.

Is 750 a Good Credit Score For a 20-Year-Old?

For people in their 20s, the typical FICO® credit score is 660. Consumers begin to build their credit scores between the ages of 20 and 29. These customers might be paying off their student debts with a low-limit student credit card.

What is the Average Credit Score for a 50-Year-Old?

The typical VantageScore is 711, whereas the typical FICO® score is 703. When consumers reach their fifties, their credit score significantly rises, averaging 703 and higher.

How Common is an 800 Credit Score?

Only 23% of consumers have FICO® Scores of 800 or higher, making having a score of 800 or higher quite uncommon.

What is a good credit score for my age?

It’s regarded good to be between 670 and 739. A credit score of 740 to 799 is said to be excellent. 800 and higher credit ratings are regarded as outstanding. A VantageScore of 600 or less is regarded as having bad or extremely poor credit.

What credit score do most 18 year olds have?

Credit Karma reports that the average credit score for people between the ages of 18 and 24 is 630, while the average credit score for people between the ages of 25 and 30 is 628.

How long does it take to get to 800 credit score?

A credit history of little under 22 years is typical for those with a score of 800. Length of credit history does not indicate length of credit usage. As an alternative, it shows the typical age of the open accounts on your credit report.

Is a 900 credit score possible?

Depending on the scoring model, FICO® score ranges can range from 300 to 850 or 250 to 900, however higher scores can suggest that you might be less dangerous to lenders.

What credit score does everyone start at?

The most widely used credit-reporting models begin with base credit scores of 300. Only if you’ve handled your money improperly can you start with a score of approximately 300. Without applying for any credit, you can start to establish a credit history or raise your credit score.

How long does it take to get a 750 credit score from scratch?

However, it also implies that establishing credit requires time and perseverance because you must first demonstrate a history of sound financial management. Actually, it typically takes 5 years or longer to acquire a credit score of 750 or above, which is considered outstanding.

What is a perfect credit score?

Although obtaining an outstanding credit score is more likely than obtaining a perfect credit score of 850 is difficult. Excellent credit can make it easier for you to qualify for the best credit cards, mortgages, and competitive loan rates, which can ultimately save you money. The best credit scores are those that are “Excellent.”


Maintaining a healthy credit score is ideal for everyone, irrespective of their age. So if you’re young, you can contrast your credit score with other age brackets, such as 18, 25, 30, and so on, to build a healthy credit score.

Average Credit Score By Age FAQs

Can your credit score go up 50 points in a month?

Of course, it is. There are people who notice a 100-point increase in their credit scores within a month. 

Why is my credit score going down when I pay on time?

Even if you may have paid your payments on time, you should still check the amount on each credit card. Your credit score may suffer if you have a high credit utilization ratio. Check how much of your credit limit has been used overall and on each card separately.

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