Is Your Credit Score As High As Your Peers'?
You may think you have an average credit score – but do you really? How does your credit score compare to the national average? How about within your age group? Thanks to new information from FICO, you can see where you stand.
The average FICO score reached an all-time high of 704 this year– right in the middle of the good credit range (670-739) according to the credit reporting agency Experian. However, the average clearly shifts upward with age. The youngest age group (ages 18-29) has an average credit score of 659, while the oldest age group (age sixty and older) has an average credit score of 747.
The other age groups follow the same credit score pattern. The 30-39 age group averages 677, the 40-49 age group averages 690, and the 50-59 age group averages 713.
Why would credit scores increase with age?
Credit scores are based on risk assessment. The ...
from MoneyTips https://ift.tt/2CsVCEK
Comments
Post a Comment