Average Credit Score by Age

On February 16, 2025 By newsroom Topic: Saving And Investing Money

Credit scores generally increase with age, reflecting longer credit histories and more responsible financial habits. Here’s an overview of average credit scores by age group for the two most popular scoring models: FICO 8 and VantageScore 3.0.

Average FICO 8 Scores by Age

18-29: 680
30-39: 692
40-49: 706
50-59: 724
60+: 753

Average VantageScore 3.0 Scores by Age

Gen Z (born 1997+): 669
Millennials (1981-1996): 677
Gen X (1965-1980): 696
Baby Boomers (1946-1964): 738
Silent Generation (1928-1945): 745

Note: While averages vary slightly between models, younger individuals typically have lower credit scores due to shorter credit histories and fewer accounts.

Overall Average Credit Score

FICO 8: 717 (as of October 2023)
VantageScore 3.0: 700

Does Age Affect Credit Scores?

Age itself doesn’t directly affect credit scores, but older individuals tend to have higher scores due to:
1. Longer credit histories: The length of time accounts are open is a key factor.
2. Broader credit mix: Older individuals are more likely to have a variety of accounts, such as credit cards, mortgages, and auto loans.
3. Stable financial habits: Older age groups may have more established and consistent financial practices.

What Is a Good Credit Score for Your Age?

A "good" credit score doesn’t depend on age. It is generally:
- FICO: 670-739
- VantageScore: 661-780

If your score is above these ranges, it’s considered excellent.

Tips to Build Credit at Any Age

Check Credit Reports Regularly: Ensure accuracy and dispute errors.
Pay Bills on Time: Late payments can significantly impact your score.
Lower Credit Utilization: Keep credit usage below 30% of your limit.
Increase Credit Limits: Request higher limits or open new accounts responsibly.
Maintain Old Accounts: Keeping older accounts open helps credit history.

How to Check Your Credit Score

Many banks and credit card companies offer free credit scores.
Use financial tools like NerdWallet to monitor your score without lowering it.
Regularly review your credit reports via AnnualCreditReport.com for a comprehensive view.

By understanding how your credit score compares to averages and adopting good financial habits, you can improve your score over time and unlock better financial opportunities!