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Avg. Score for a 21 year-old

New Visitor

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.
Message 1 of 17
16 REPLIES
Moderator Emerita

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
Message 2 of 17
Super Contributor

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.
12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 3 of 17
Valued Contributor

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

I'm not a kid anymore, I've done a lot of growing up! Smiley Happy
Starting Scores Sept '15- EQ-555, TU-542-EX-536
Current Scores as of June '16 - EQ-592, TU-635. EX-629
Gardening since June2016
Message 4 of 17
Contributor

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. 
Message 5 of 17
Valued Member

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!
Message 6 of 17
Valued Contributor

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!

I'm not a kid anymore, I've done a lot of growing up! Smiley Happy
Starting Scores Sept '15- EQ-555, TU-542-EX-536
Current Scores as of June '16 - EQ-592, TU-635. EX-629
Gardening since June2016
Message 7 of 17
Established Contributor

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.......
Message 8 of 17
Valued Contributor

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...
Message 9 of 17
Super Contributor

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.
12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 10 of 17