Here’s the Average Credit Score of Americans at Every Age (How Do You Compare?)

Your credit score can impact everything from the rate you get on a mortgage to whether or not you qualify for a credit card. But most people have no idea how their credit score stacks up against the scores of others their age.

Understanding your credit score and how it compares to the scores of peers can help you get on the right track to build wealth.

A strong credit score is about far more than having bragging rights: Your score potentially influences many aspects of your financial life.

Lenders, landlords, insurers, and even some employers may take a peek at your credit history. A higher credit score often translates into lower interest rates and higher odds of being approved for credit cards and other types of borrowing.

With a stellar score, you may also pay less for insurance or qualify more easily for a rental apartment. On the other hand, a low score can automatically close doors and lead to less-than-favorable loan terms.

So, it's worth paying attention to your score, even if you aren't planning any big money moves at this time.

Now, let's look at average credit scores generation by generation. All credit score data comes from Experian and dates from the third quarter of 2024.

Age range: 18 to 27

Credit score: 681

Overall, Americans have an average credit score of 715. However, Generation Z is just starting out in the world of credit, which helps explain why their average FICO score sits at 681, the lowest among all generations.

Many Gen Zers are new to using credit and may not have long credit histories, which plays a role in scoring. This group is also more likely to carry debt such as student loans or high balances on starter credit cards, which can impact a credit score.

Age range: 28 to 43

Credit score: 691

Millennials are further along than Gen Z in their financial journeys, and their higher average credit score reflects that fact.

In many cases, millennials are still rebuilding from past economic setbacks. On a positive note, some are starting to enter their peak earning years, which might allow them to pay down more debt.

This generation often relies on credit to juggle financial responsibilities, and improving scores could open up more favorable lending terms.

Age range: 44 to 59

Credit score: 709

Many members of Generation X hold high levels of consumer debt, which may include mortgages and credit cards. Despite this, their average score has climbed to 709, just below the national average of 715.

People in this age group are likely in their peak earning years but may be managing both children and aging parents, leading to more financial responsibilities. Still, many Gen Xers have longer credit histories and more established credit accounts, which can help boost scores.

Age range: 60 to 78

Credit score: 746

Baby boomers have an average credit score of 746, putting them in the "very good" range. Many boomers have decades of credit history and have paid off mortgages, both of which can help boost scores.

Often, financial priorities become different at this age. While this generation tends to carry less debt than others, many may still have open credit cards and mortgages.

Age range: 79 and up

Credit score; 760

With an average credit score of 760, the Silent Generation has the highest credit score of any age group. Many in this generation are long past major borrowing years, but they've benefited from lengthy credit histories and keeping low levels of revolving debt.

Members of the Silent Generation are also less likely to open new credit accounts or take out large loans. A score in the mid-700s can offer peace of mind and flexibility for managing finances well into retirement.

Several key factors influence your credit score. The most commonly used score is the FICO score. Here are the factors that go into the score:

• Payment history: 35%
• Amounts owed: 30%
• Length of credit history: 15%
• New credit: 10%
• Credit mix: 10%

Improving your credit score takes time. Making payments on time is essential, as is finding ways to get out of debt and stay out of debt.

Avoid opening too many new accounts at once, which can trigger "hard inquiries" into your credit history, potentially lowering your score temporarily. On the other hand, keeping old accounts open can help lengthen your credit history, even if you rarely or never use those accounts.

Monitor your credit reports at least annually so you can catch errors quickly and request that they be corrected.

Your credit score is one of the clearest indicators of your overall financial fitness, and knowing how your score compares to the scores of others in your age group can offer some valuable perspective.

Whether you're trying to build credit for the first time or to maintain a strong existing credit score, understanding your credit standing can help you make smarter financial decisions.

If your score isn't where you'd like it to be, it's never too late to improve.