Average Credit Score by Exact Age (2024)

Credit scores are one of the most important financial barometers. A good credit score opens doors to lower interest rates and better loan products, while a poor credit score acts as a barrier to your financial goals.

And while credit scores don’t take your age into consideration, there is a statistical association between a consumer’s age and their credit score. Read below to understand how credit scores tend to vary among different age groups and how you compare to your peers.

Experian data of adults ages 23 to 99 shows that the average credit score was 714 in 2022.¹ The average credit score remained unchanged from 2021.

Prior to 2018, the average credit score was below 700. Economic factors and increased awareness of how credit scores work (greatly aided by free credit score and report apps) have influenced the upward trend. But the YoY stagnation and uncertain economy may point toward a future decline.

Here’s how the data over a four-year period breaks down by 20-somethings, 30-somethings, and so on. The data highlights how consumers between ages 30 and 69 see the largest credit score gains over time.

The Average FICO Score Among 20-Year-Olds Is 660

It makes sense that the youngest consumers have the lowest average credit scores. And unfortunately, credit scores of 20-somethings don’t improve as they get older — they actually decrease. 

The average 20-year-old had a 681 credit score, but a typical 29-year-old only had a 660 credit score.² FICO defines good credit as a score of 670,³ which is the general cutoff for qualifying for many types of loans and credit cards. That means the average adult approaching 30 may not have access to the best rates and terms.

The Average FICO Score Among 30-Year-Olds is 672

By the time consumers are in their 30s, they’re working on improving their finances — and it shows. Credit scores start to increase when borrowers hit their 30s, rising from 663 for 30-year-olds to 677 for 39-year-olds.²

The Average FICO Score Among 40-Year-Olds is 683

Forty-somethings are typically hitting their stride when it comes to credit scores. By the time the average consumer is 49, they have a 689 credit score.

The Average FICO Score Among 50-Year-Olds is 703

Once consumers reach the big 5-0, their average credit scores start turning from OK to good. The average 50-year-old has a 692 credit score, but those in their mid-50s start seeing scores in the 700s.²

The Average FICO Score Among 60-Year-Olds is 733

Those in their 60s typically see a huge positive credit score swing. The average 60-year-old has a 719 credit score, but those in their late 60s have average FICO scores in the 740s. This 20-point jump represents large financial strides.²

The Average FICO Score Among 70-Year-Olds is 754

Borrowers in their 70s also tend to see credit score improvements over time. The average 70-year-old has a 747 credit score, but this jumps to 757 by the time they’re 79.

The Average FICO Score Among 80-Year-Olds is 757

Consumers in their 80s seem to hold steady, with their average credit scores never going more than one point above or below 757. 

The Average FICO Score Among 90-Year-Olds is 753

Ninety-somethings see a slight decrease in their credit scores as time goes on. The average 90-year-old has a 757 credit score, but this drops to 749 by the time they’re 99. These slight decreases are unlikely to affect their borrowing power.

Credit scores tend to rise as generations get older. Here’s how the generations compare: 

Is your credit score below the average threshold for credit scores of other people your age? Here are some ways you can fix your credit score:

• Pay your bills on time. The largest factor that affects your credit score is your payment history — or whether you pay your bills on time. In fact, your credit score is a numerical representation of your likelihood of missing a payment by 90 days or more within the next two years⁴. Always making your payments before or on the due date will help you increase your credit score over time.
• Keep credit card balances low. The next most important component is how much debt you owe, including your credit card balances. Credit card debt is measured by your credit utilization ratio (CUR), which is your current credit card balance divided by the total credit card limit. Keep your credit utilization percentage below 30% or it will negatively affect your credit scores. If your percentage is above 30%, try to pay down your credit cards. The lower your CUR, the better.
• Avoid opening new loans. Every time you apply for a new loan or credit card, your credit score may take a hit of up to 10 points. This is due to hard credit inquiries, which occur on your credit reports whenever a lender or creditor looks at your credit reports for the purposes of reviewing a credit or loan application. Try to avoid opening any new credit cards or loans when you’re working on rebuilding your credit score unless it’s absolutely necessary.
• Don’t close your old credit cards. The average age of your credit history makes up 15% of your credit score. When you close an old credit card, it can decrease the average age — and your credit score along with it.
• Check your credit report. About 1 in 5 people have a mistake on their credit report that’s hurting their credit score.⁵ If it’s been a while since you checked your credit reports, go to www.AnnualCreditReport.com and review your credit reports. If you notice an error, file a dispute with each credit bureau. Make sure to follow up in a few weeks to see if it’s been removed.

Credit improvement takes time, but consistent efforts pay off in the long run.

Even if you’re behind compared to others in your age group, it doesn’t take years to improve your credit score. By building consistent habits, you can see your credit score jump from the bottom of the ladder to the top of the pack.

• Average Credit Score by State
• Average Credit Score by Race
• Average Credit Score by Income
• Average Credit Score in America

¹ https://www.experian.com/blogs/ask-experian/what-is-the-average-credit-score-in-the-u-s/

² https://www.experian.com/blogs/ask-experian/research/credit-scores-by-age/

³ https://www.myfico.com/credit-education/credit-scores 

⁴ https://www.transunion.com/docs/rev/business/financialservices/VantageScore_CreditScoreBasics-Part1.pdf 

⁵ https://www.consumerfinance.gov/about-us/blog/common-errors-credit-report-and-how-get-them-fixed/