What is the Average Credit Score by Age Group? There are other credit scoring models such as VantageScore, but the majority of lending decisions are made using FICO scores, so this review is focused only on FICO scores. The Average Credit Score by Cohort What Is the Average Credit Score?ĭata provided by Experian revealed that the average FICO credit score (scores maintained by the credit bureaus, Equifax, Experian, and TransUnion) for Americans was 716 in 2021 2.Īccording to Experian, this average FICO score may be a result of credit scoring factors such as fewer late payments or delinquencies on credit cards, shrinking debt (credit card debt, loan debt, etc.), and a decrease in credit utilization. Now’s the time to open a credit card or loan to build your history. Around 19 million adults lack a score altogether due to credit reports with minimal credit usage or out-of-date credit history. Of course, if you have a credit card, that doesn’t necessarily mean you will have a credit score. Number of Americans With No Credit HistoryĪccording to the Consumer Financial Protection Bureau (CFPB), approximately 26 million adults (one out of 10) are considered to be “credit invisible”, meaning they have no credit history as they’re without credit cards, loans, and other lines of credit.
If you’re looking to learn more about credit scores, what a FICO score is (as well as bureaus like Equifax, Experian, and TransUnion), and how you measure up to other Americans, let’s dive into this exhaustive list of credit score statistics that you should know.
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