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How Does Your Credit Score Compare to Other Americans?

Written by: Kristy Welsh

Last Updated: September 25, 2017

How does your credit score stack up against the average American credit score or even most Americans? FICO scores range from a low of 300 to a high of 850 (a perfect credit score which is achieved by only 1 percent of all consumers). The national average credit score is 700, and only 13 percent of the nation's population has a score above 800. Roughly 15 percent of the population has a credit score lower than 550. A good credit score is anything above 700 and a very good credit score is 720 or higher.

How Does Your Credit Score Compare?

When comparing your number to others, you need to know which credit score model is being used to calculate the score, and what credit score range is being used. To reiterate, there are many different credit score models, including versions of Vantage Score, FICO scores and even educational credit scores. Some of these have different credit score ranges, so while VantageScore 3.0 and FICO scores run from 300 – 850, there are others that may run from 501-990 or 360–840, for example. You can generally find out what score’s in use by looking at the sheet or site on which the score is being supplied.

What is a Good Score?

Again, different models have different ranges, and lenders make their own decisions about what they consider acceptable. The scores typically range from 301 to 850, with categories from bad to excellent. Here’s how the credit tiers generally break down:

Based on data compiled by WalletHub, there is a correlation between age and average credit scores, with scores rising along with age. According to their data for 2016, the average credit score by age is as follows:

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The Experian National Credit Index study found that people in the 18-39 age group has the greatest number of late payments. The 40 to 59 age group held the greatest amount of debt; and the 60+ age group used the least amount of credit that was available to them.

Experian's 2016 State of Credit report showed the following facts:

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