Here is the average credit score at every age in the U.S.—see how yours stacks up (2024)

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Here is the average credit score at every age in the U.S.—see how yours stacks up? ›

Here's the average credit score by generation as of March 2024, per VantageScore CreditGauge data shared with CNBC Make It: Gen Z (18 to 27): 665. Millennials (28 to 43): 687. Gen X (44 to 59): 710.

Here's the average credit score by generation as of March 2024, per VantageScore CreditGauge data shared with CNBC Make It: Gen Z (18 to 27): 665. Millennials (28 to 43): 687. Gen X (44 to 59): 710.

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

71.3% of Americans have a FICO Score of 670 (good) or better. 21.2% have an exceptional FICO credit score of 800 or above.

Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. A score of 750 puts you in a strong position. Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO. FICO Blog.

And best of all is the so-called Silent Generation. This group includes people aged 78 and over. They're the only ones who rate a very good score on the FICO 8 scale.

Making on-time payments to creditors, keeping your credit utilization low, having a long credit history, maintaining a good mix of credit types, and occasionally applying for new credit lines are the factors that can get you into the 800 credit score club.

A credit score of 900 is not possible, but older scoring models that are no longer used once went up to 900 or higher. The highest possible credit score you can get now is 850.

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.

As of the third quarter of 2023, 1.54% of U.S. consumers had a FICO Score of 850, according to Experian data. Some notable traits of consumers with a perfect credit score include an above average number of credit cards, lower credit utilization rate and lower than average total debt.

How rare is an 820 credit score? ›

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO^® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO^® Scores in the Exceptional range.

Overall, the national average card debt among cardholders with unpaid balances in the fourth quarter of 2023 was $6,864, down from $6,993 in the third quarter. That includes debt from bank cards and retail credit cards.

While having a perfect 850 credit score is impressive, you don't necessarily need it to unlock the best benefits. "Typically, once you hit the mid-700s, you're considered to have excellent credit and there's no practical benefit to scoring any higher," says Ted Rossman, Bankrate's senior industry analyst.

Your FICO^® Score falls within a range, from 740 to 799, that may be considered Very Good. A 750 FICO^® Score is above the average credit score.

As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.

So, given the fact that the average credit score for people in their 20s is 630 and a “good” credit score is typically around 700, it's safe to say a good credit score in your 20s is in the high 600s or low 700s.