Average Credit Score by Age

[mfinsmi1]

so i did some research on this... I find i compare myself to a lot of big players on myfico seeing what they are able to accomplish and sometimes get discouraged but im happy to see something like this and know im above average for my age range (20-29). Posting this on here for anyone who might doubt all the work they have been doing on their credit. 

[Anonymalous]

Always an interesting comparison. Do you have a source?

Here's Experian's 2021 version, using generational cohorts instead of decades:

• Silent generation (76+): 760 (very good)
• Baby boomers (57-75): 740 (very good)
• Generation X (41-56): 705 (good)
• Millennials (25-40): 686 (good)
• Generation Z (18-24): 679 (good)

Overall average: 714 (good; up 4 points from 2020)

https://www.experian.com/blogs/ask-experian/what-is-the-average-credit-score-in-the-u-s/

https://www.experian.com/blogs/ask-experian/infographic-what-are-the-different-scoring-ranges/

[mfinsmi1]

@Anonymalous this chart comes from money geek but AMEX and discover both show similar stats

[Anonymalous]

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@mfinsmi1 wrote:
@Anonymalousthis chart comes from money geek but AMEX and discover both show similar stats

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Thanks, found the article. While the graph you included isn't labeled, it looks like it's using Vantage Scores, since the average in the graph (711) matches the average the MG article gives for that scoring model (in contrast, the article says the average FICO score is 704).  And just above the graph in the article, it cites the Experian blog post I linked as their reference, but the numbers are very different. Since the text of the MG article refers to 2nd quarter 2019, I suspect the basic data in the MG article is based on an older version of the Experian article. Even though the MG article says it was updated just two months ago, it was probably some minor correction (they would have had to rewrite the whole article to accomodate the shift from measuring credit scores by decades to generational cohorts).

One interesting consequence is that scores have definitely been increasing, even through the pandemic.

[mfinsmi1]

@Anonymalous yeah it looks like there are no 2022 stats ... you may find this article interesting , it cites 2021 Fico data I believe. 
https://upgradedpoints.com/credit-cards/credit-score-facts-statistics/

Also - this is what you see on discover from when i got my fico 8 tu score back in the beginning of july 

[Anonymous]

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@mfinsmi1 wrote:

so i did some research on this... I find i compare myself to a lot of big players on myfico seeing what they are able to accomplish and sometimes get discouraged but im happy to see something like this and know im above average for my age range (20-29). Posting this on here for anyone who might doubt all the work they have been doing on their credit. 

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That's funny. Very accurate. I'm exactly in the range it displays for ages 40-49.

[Anonymalous]

@mfinsmi1, I found the Bad Credit article that Upgraded Points cited, and they're citing Experian 2019 as the source. Everything circles back to Experian.

Though the Discover chart must use a difference source because it's using a different breakpoint (26-35 instead 21-30, for instance).