Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: Credit score correlations?

Welcome!

 

The age of the person isn't a correlation. However, those who are older generally have an older length of history and that's a significant weight on FICO scoring. There are plenty of folks in here in their early 20s with FICOs in the mid-700s. But generally the thing that holds them back from the 800s is a short credit history.

 

Collections can hold anyone's score back. I've personally have lost 104 FICO points due to an added CA. It can be a big drain. The age of the collection is a big deal too. If they reported an old debt from 6 years ago, then that has less weight than a collection that happened last month. Also the report composition is at play too. If you have 20 collections reporting, adding another won't do anything. If you are baddie-free, then adding the first would be a tremendous ding. With that said, you can't compare your report to your folks because no two reports are alike and there might be different things at play influencing the score like a length of history, prior baddies, age of those baddies, mix of credit, scoring bucket, etc.