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Here’s The Average Credit Score By Age In The US

5-minute read

Most of us have a general idea of what our credit score is, and we all know the bigger the number, the better. But many wonder, “What constitutes a good credit score and how do I measure up against everyone else’s score?” For context, the average FICO® Score in America is 695, and the average VantageScore 3.0® stands at 673. 

These are two of the most widely used scoring models in the country, and both range between 300 – 850. That gives you a bar for comparison in terms of average credit score.

It's valuable to know your score to gauge your own personal finances. Knowing your creditworthiness in comparison to others in your demographic or region can help you determine where you are and where you want to be financially.

Let’s dig deeper into how you might measure up with specific age groups and locations.

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Average Credit Score By Age

You may have guessed that credit score tends to increase with age – and you’re right! While the average credit score for Americans in their 20s is 662, the average score for people over 60 jumps to 749. Building good credit takes time (among other things) but knowing a little bit about credit in relation to your age can go a long way.

Here’s a breakdown of the average FICO® Score by age. 

  • Age 20 – 29: 662
  • Age 30 – 39: 673
  • Age 40 – 49: 684
  • Age 50 – 59: 706
  • Age 60+: 749
Average Credit Score By Age

Average Credit Score By State

So now you know how you measure up by age, but what about location? We know the average FICO ® Score in the U.S. is 703, as of 2019. What about the average score for Georgians, Michiganders or Ohioans?

To be clear, where you live doesn’t factor into your credit score, but it can be useful to understand how your score compares to the average in your state.

 

Alabama

680

Alaska

707

Arizona

696

Arkansas

683

California

708

Colorado

718

Connecticut

717

Delaware

701

District Of Columbia

703

Florida

694

Georgia

682

Hawaii

723

Idaho

711

Illinois

709

Indiana

699

Iowa

720

Kansas

711

Kentucky

692

Louisiana

677

Maine

715

Maryland

704

Massachusetts

723

Michigan

706

Minnesota

733

Mississippi

667

Missouri

701

Montana

720

Nebraska

723

Nevada

686

New Hampshire

724

New Jersey

714

New Mexico

686

New York

712

North Carolina

694

North Dakota

727

Ohio

705

Oklahoma

682

Oregon

718

Pennsylvania

713

Rhode Island

713

South Carolina

690

South Dakota

727

Tennessee

690

Texas

680

Utah

716

Vermont

726

Virginia

709

Washington

723

West Virginia

687

Wisconsin

725

Wyoming

712

Average Credit Score By State

Average Credit Score By Region

Let’s break down the USA into the four regions used by the U.S. Census Bureau: Northeast, Midwest, West and South. As of 2019, the Northeast has the highest average FICO® Score at 717. All the states in this region fit into the first two columns on the map above.

The next highest is the Midwest at 716. The Midwest has a wider dispersion than the Northeast but has five states listed in the highest column: Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin.

The West comes in at 710 with the widest dispersion of the three regions. On one side, you’ve got Hawaii and Washington at 723, and on the other, there’s Nevada and New Mexico at 686.

Rounding out the regions, the South has an average score of 688. Thirteen of the South’s 16 states fall into the bottom two columns. The only states that aren’t southern states in those columns are Indiana, Nevada and New Mexico.

Northeast

717

Midwest

716

West

710

South

688

Average Credit Score By City

Boulder, Colorado, tops the list of metropolitan areas with high average FICO® Scores. With a score of 743, it’s a whole 40 points above the national average. Madison,

On the other side of chart, you have Newark, New Jersey, and Detroit, Michigan, with VantageScores® of 610 and 591.

City Name

Average VantageScore®

Honolulu, HI

716

Seattle, WA

716

Sioux Falls, SD

708

Fargo, ND

702

Boston, MA

703

New York, NY

700

Minneapolis, MN

701

Portland, OR

702

Burlington, VT

701

Boise, ID

698

Billings, MT

691

Omaha, NE

692

Cheyenne, WY

690

Portland, ME

687

Virginia Beach, VA

678

Salt Lake City, UT

681

Denver, CO

683

Washington, DC

678

Manchester, NH

677

Anchorage, AK

675

Albuquerque, NM

671

Wilmington, DE

676

Wichita, KS

662

Los Angeles, CA

669

Charleston, WV

662

Des Moines, IA

666

Louisville, KY

664

Kansas City, MO

661

Jackson, MI

661

Chicago, IL

660

Charlotte, NC

660

Atlanta, GA

663

Little Rock, AR

655

Oklahoma City, OK

647

Columbus, OH

651

Jacksonville, FL

652

Columbia, SC

644

Houston, TX

655

Phoenix, AZ

653

Las Vegas, NV

649

New Orleans, LA

644

Providence, RI

647

Philadelphia, PA

647

Indianapolis, IN

647

Baltimore, MD

643

Bridgeport, CT

634

Milwaukee, IW

633

Birmingham, AL

635

Memphis, TN

616

Newark, NJ

610

Detroit, MI

591

Average Credit Score By Income

In general, the lower your income, the less credit you’ll be extended. While income might be a factor in securing a loan, it doesn’t directly affect your credit scores.

However, credit utilization – meaning the percentage of available credit you use – does factor into a credit score. If you have a lower credit line and use most or all of it, it’ll negatively impact your score.

Building credit is also hard if you don’t have the income to get credit extended to you. It should come as no surprise that those in lower income brackets have lower scores.

Annual Income

Average Credit Score

$50,000 - $74,999

737

$30,001 - $49,999

643

$30,000 or less

590

Six Factors That Affect Average Credit Score

So, now that you have a few frames of reference to compare your score to, what can you do about it? Understanding how to improve your score starts with gaining some knowledge regarding what goes into calculating it. In most cases, it’s these six factors:

  • Payment history: Whether you’ve paid past credit accounts on time

  • Total debts owed: The amount of money you owe to creditors

  • Credit utilization: The amount of available credit you’ve borrowed

  • New credit: How many credit accounts you’ve opened in a short amount of time

  • Credit mix: The types of accounts that make up your credit report

Six Tips For An Above-Average Credit Score

Knowing the factors is a start, but understanding how to move the needle in the right direction on each of them is what really matters. Let’s take a look at six ways to get you on the path to climbing the credit score ladder.

1. Make All Your Credit Card Payments On Time

Late payments mean your credit card company changes its focus from giving you credit to collecting a debt. This results in them taking a pretty punitive approach, which can include charging you late fees, hiking up your interest rate and even closing your account.

2. Reduce Your Total Debt

The amount of debt you have is one of the biggest factors that affects your credit score. Carrying a lot of debt, especially credit card debt, is a score killer that can make it hard to get approved for new cards or other loans. Debt on a “maxed out” credit card or debt that goes over your credit card limits is, not surprisingly, especially bad.

3. Keep Your Credit Utilization Low

This is a good indicator of how you manage your finances and what your overall financial capabilities are, so it’s a big influence on your credit score. Getting your utilization rate to below 30% is a good way to improve your overall score.

4. Build Your Credit History 

The longer you build up your credit history the better, as this gives credit card companies more data points in determining how responsible you are when it comes to credit. Paying your bills, credit card debts and other loans on time year after year is a good way to make your credit history shine.

5. Minimize The Frequency Of New Credit Applications

The first thing a bank does when you apply for credit is a hard credit inquiry, which will hurt your credit score. However, if you keep these hard credit inquiries to one or two over a 12-month period, the impact will be minimal.

6. Strive For A Diverse Credit Mix

Having a variety of credit types isn’t a huge factor in determining your credit score, but every bit helps when you’re working toward making yours better. When lenders see you using credit responsibly in several different ways – credit card loans, student loans, home loans, auto loans, etc. – it gives them a little more peace of mind.

As you’ve likely surmised already, the more comfortable lenders get with your behaviors regarding credit, the better your score will be.

The Importance Of Monitoring Your Credit

The best advice when it comes to your credit score is simply to pay attention to it. Not only does this ensure you understand your score as it ebbs and flows, but it also allows any factual errors that could be affecting your score to be remedied.

You have three different credit reports to monitor – Equifax®, Experian™ and TransUnion® – and there are three basic ways to do it:

  1. Request copies and check them yourself.
  2. Use a free service – there are a variety to choose from online.
  3. Use a paid service – again, a quick Google search will supply you with plenty of options.

No matter how you choose to monitor your credit, don’t turn a blind eye or put it off. Knowledge is power when it comes to credit. And now that you’re armed with the knowledge and tools, you can look at your credit with an informed eye. So don’t look away for too long.

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