Reply
New Member
SeaChris
Posts: 7
Registered: ‎07-03-2008

Average US credit score?

Does anyone know what the average US credit score is now? Guessing there has been a decrease as credit limits drop, delinquencies rise, and people using credit more to get by. The last data I can find is from 2007 where the median was 723. Thanks for any info!
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Average US credit score?

I don't know that they re-calculate it.

Seems like there was a thread on this exact subject about three weeks ago. It took off the mean - median - average thing, I flashed back on stats class, and my brain promptly shut down. :smileyhappy:

But try a search up above.
* 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
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Average US credit score?

680.
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: Average US credit score?

http://www.myfico.com/CreditEducation/AverageStats.aspx

 

http://ficoforums.myfico.com/fico/board/message?board.id=myficoprod&message.id=839&query.id=165195#M...

 

 

 

 

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
New Member
SeaChris
Posts: 7
Registered: ‎07-03-2008

Re: Average US credit score?

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!

 

 

Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Average US credit score?

[ Edited ]

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.

Message Edited by ilovepizza on 10-09-2008 05:06 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: Average US credit score?


ilovepizza 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.

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Average US credit score?

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.  :smileyhappy:

If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Regular Contributor
recoverychick
Posts: 113
Registered: ‎10-21-2007

Re: Average US credit score?

Thanks.  Is there a problem with the fico analysis.  My scores were 696, 693 and 696 and I keep getting that "little below average message".  I hope it hasn't gone up again. With a CH13 still showing, it's taken a while to get there. 
Valued Contributor
debtisgood
Posts: 1,126
Registered: ‎03-25-2008

Re: Average US credit score?

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.

 

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+