In between those are non-Hispanic whites at 734, Hispanic whites at 701, and all others at 732.³ Average Credit Score by Gender Average Credit Score by RaceĪsian Americans have the highest average credit score of 745, and Black people have the lowest at 677. The median score of 658 in lower-income families suggests that many borrowers are unlikely to have access to affordable credit as those with scores above 720. The Federal Reserve Bank of New York report also states that credit scores are highly correlated with income and are important both for credit access and for basic necessities, such as renting an apartment or opening a utility account. According to a report by the Federal Reserve Bank of New York, low-income families have a median credit score of 658, moderate-income families have a median credit score of 692, middle-income families have a median credit score of 735, and high-income families have a median credit score of 774.³ You can see differences in credit scores among income levels. It’s not just age that plays a role in your credit score. Image Credit: Upgraded Points Average Credit Score by Income This is the average credit score by age, according to Experian:² When looking at the average credit score by age, you can see that credit scores mostly increase. That is unchanged since 2021.¹ Average Credit Score by AgeĪ credit score can build up over time, and that is why a lot of younger generations will have lower credit scores. According to FICO, the average credit score as of February 2023 is 714. To get a good idea of where your credit stands, it is also important to know where the average credit score in America sits. What Is the Average Credit Score in the U.S.? Average Credit Score Overall Your payment history accounts for 35% of your credit score.⁵.21% of Americans have a credit score in the 800 to 850 range.⁵.Credit scores are basically even when comparing men to women.⁴.Black Americans have the lowest credit score of any race at 677.³.Asian Americans have the highest credit score of any race at 745.³.Low-income families have a median credit score of 658.².People older than 77 have the highest average credit score of 757.¹.The average credit score for Americans ages 18 to 25 is 679.¹.9 Quick Credit Score Facts and Statistics In this post, we have everything you need to know about credit scores in the U.S. Understanding exactly what a credit score is, what affects it, what the average credit score is in America, and the basic stats and facts around a credit score are important. It has an impact on almost every big purchase you make but can be affected by almost every little purchase you make. Your credit score is one of the most important things you will carry with you throughout your lifetime.
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