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http://www.myfico.com/CreditEducation/AverageStats.aspx
http://www.myfico.com/CreditEducation/AverageStats.aspx
Thank you all for the information- found those articles too but wasn't sure how reliable. The earlier thread Moneyzine article is from Experian, but it seems to be from September 2008 so probably the best one out there now!
What happened to the other people over age 40? Many of them had to have credit starting around 18-20 years old?
"Length of Credit History"
"In fact, we found that 1 out of 4 consumers had credit histories of 20 years or longer."
Source - MyFICO Lenth of credit history.
@Anonymous wrote:What happened to the other people over age 40? Many of them had to have credit starting around 18-20 years old?
"Length of Credit History"
"In fact, we found that 1 out of 4 consumers had credit histories of 20 years or longer."
Source - MyFICO Lenth of credit history.
Yes and no. A lot of people will have old accounts that have dropped off, thus reducing the apparent average age. This might well include mortgages, credit cards from stores that no longer exist, cards unused for a decade etc.
I just throught of that after posting.... First I was thinking about how long they were on file, then realized it was oldest account on file. Thanks.
The MEDIAN FICO score is around 720.....the mean is closer to your score because it is easier under the scoring system for lower scores to drown out higher scores due to the larger amount of room at the bottom than at the top.