What is a Good Credit Score by Age?

With FICO's credit rating model, credit scores ranging from 300 to 579 are considered poor. Scores ranging from 580 to 669 are considered fair. Any value between 670 and 739 is considered good. A credit score between 740 and 799 is considered very good.

Credit scores of 800 and above are considered excellent. Statistics show that credit scores tend to improve with age, with seniors having the highest average credit score and the youngest cohort having the lowest. The average American has a good credit rating, but this varies depending on the demographic group. Vermont has the second highest average, with 736, and Wisconsin ranks third with an average credit score of 735. To understand how to improve your score, it's important to know what goes into calculating it.

Paying your bills, credit card debt, and other loans on time year after year is a good way to make your credit history shine. This is a good indicator of how you manage your finances and what your overall financial capabilities are, so it has a big influence on your credit rating. Having a lot of debt, especially credit card debt, is one factor that can make it difficult to get approved for new cards or other loans. The reason credit ratings matter so much is because lenders, insurance companies, and other companies routinely use them to assess risk.

Federal aid programs have helped borrowers keep up with their other debt obligations, which likely helped increase the average credit score. Younger Gen Z consumers increased scores by five points, and the average baby boomer score increased by four points. Late payments mean that your credit card company shifts its approach from giving you credit to collecting debt. Knowing your average credit score by age can be a useful tool to understand how you compare to your peers.

By now, you may have a 10-year credit history, more lines of credit, and more types of credit, such as an auto loan. Understanding how your score compares to others in your age group can help you make informed decisions about how to manage your finances and build a strong financial future.

Jeffery Sheinbein
Jeffery Sheinbein

Hipster-friendly food specialist. Certified pop culture geek. Certified music aficionado.