What is a good credit score for my age?

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    KikoffKikoff
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    KikoffKikoff
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    While there isn’t a specific “good” credit score for different age groups, a general guideline is that younger adults (18-24 years old) should aim for a score of 650 or higher, as their credit history is just starting. For those aged 25-34, a score between 670-700 is solid, reflecting growing financial responsibility. For individuals 35 and older, a score of 700 or above is considered good, indicating consistent credit management over time.

    Credit scoring companies do not consider your age or give you an instant score based on it.

    However, it takes time to build credit and work on the 3 key factors that impact your credit score calculation: payment history, credit utilization, and age of accounts (credit history).

    According to recent FICO data, the average credit score by age group looks like this:

    • 18-29: 680
    • 30-39: 692
    • 40-49: 706
    • 50-59: 724
    • 60+: 753

    The average credit score for different generations breaks down like this:

    • Gen Z (1997+) 669
    • Millennial (1981-1996) 677
    • Gen X (1965-1980) 696
    • Baby Boomer (1946-1964) 738
    • Silent Generation (1928-1945) 745

    Just seeing these average credit scores, you might think that the older you are, the higher your credit score no matter what, but not quite.

    People from older generations tend to have higher average credit scores since they’ve had more opportunities to build their credit scores. Over time, they establish a history of paying bills, work on a low credit utilization ratio, and increase their credit history. All of those factors and more add up to a good credit score.

    Regardless of age, the key is to manage credit responsibly, which will naturally improve your score.

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