Reply
New Visitor
Posts: 1
Registered: ‎06-06-2008
0

Avg. Score for a 21 year-old

What's the average score for someone in his or her early 20s? I'm 21 and have TransUnion and Experian scores of around 720, but my Equifax score is 689! The only things hurting me are the length of my credit history and student loans (which, of course, I can't help). I know Equifax is the most popular for lenders to request, so I'm a little worried! I just want to make sure I'm at least on par with my peers.
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Avg. Score for a 21 year-old

Hi, welcome to the forums!

You have great scores for someone relatively new to credit. These are your FICO scores, acquired here, and not FAKO's from the credit bureaus or credit monitoring services, right? There really isn't an average score for various ages, but for someone who has had credit for 2-3 years and hasn't had any late payments, low 700's are what I'd expect to see.

I would not expect an EQ of 689 to be a problem with an otherwise clean credit report. You're more apt to have problems with lenders being wary of your short history. But my young-adult kids have scores ranging from the high 600's to the mid-700's, and they've always gotten what they applied for.

When you look at screen two of your FICO EQ report, the screen called "Understanding Your FICO Score", what does it list for your negatives? Usually EQ scores are lower for those who have had lates, so that's interesting that yours is 30 points behind the others.

Actually, many of us find that EX (Experian) is pulled more often than the others, although EQ (Equifax) is certainly used as well.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
0

Re: Avg. Score for a 21 year-old

Since you are just startiong out in the credit world,  time is the key to rasining your score.  This means using credit responsably.  If you dont a a Visa or MC card, try to go for a prime one.  Dont ramp-up too many accounts at once, , watch your util  and dont go the AU route to reaise your scores.
 
 In several years of good credit managment, you can become a high FCIO achiever and beyond.
 
Time and patience.  Oh and never ever be late.  Never.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Valued Contributor
Posts: 1,934
Registered: ‎10-23-2007
0

Re: Avg. Score for a 21 year-old

Wow im jealous, im 21 and my scores are nowhere near the OP's. I have never paid late on anything, but my util is at 68% and i have one stupid med collection! TU-620 EX-610 EQ-604
Contributor
Posts: 122
Registered: ‎05-24-2008
0

Re: Avg. Score for a 21 year-old

You're doing really well for a guy your age!  I wish I had found this forum, or at least some one to tell me about credit when I was young.  I was in the low 600's at 21 after jacking up a couple of credit cards in college.  I had no idea it was so important.  Keep up the good work, and give it time.  Your scores are good, but they will only get better with time if you continue to stay on the same track. 
Valued Member
Posts: 46
Registered: ‎05-21-2008
0

Re: Avg. Score for a 21 year-old

dude at 21 my credit was 509 two years later after getting everything fixed and only having credit for 4 years now im at EQ-730 EX-698 and TU-745. EX hates me and wont take off a 30-day baddie(which never happen they are the only one reporting it)still disputing it! but so far not bad fico score for me at 23 with four years of history!
Valued Contributor
Posts: 1,934
Registered: ‎10-23-2007
0

Re: Avg. Score for a 21 year-old

Thanks everyone, for the encouragement, after all my payments post my util will be around 39% so i am hoping for a score boost when the CRA's update!
Established Contributor
Posts: 660
Registered: ‎09-11-2007
0

Re: Avg. Score for a 21 year-old

And, NEVER close an account - there is no reason to and your oldest account really matters when they start aging..
 
By the time you are 40 (not rushing it, of course), you will have close to 20 years of credit showing on your credit report and your scores will be approaching 800 or more assuming no negative items.......
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Avg. Score for a 21 year-old

It's never too late to rebuild your credit, even if you've skinned your knee a couple of times...or worse.

But if you know any teenagers, here's the strategy I recommend for making sure young people have the best possible credit score by the time they graduate from college:

http://allaboutthebenjamins.org/youngandstarting.html
- - - -
in a credit-scoring postnuclear Stone Age...
Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
0

Re: Avg. Score for a 21 year-old



TheNewWorldMan wrote:
It's never too late to rebuild your credit, even if you've skinned your knee a couple of times...or worse.

I really started at 46 and didnt find MYFico till 51 so you are never too old to start and please dont follow my lead by waiting till 46.
11/28/2014 FICO: EQ: 796 EX:788 TU:803
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.