Can a 20 year old have a 700 credit score? (2024)

Can a 20 year old have a 700 credit score?

According to Experian® data, the average American credit score for the age group 18-24 was 679 as of September 2022. This falls in the good FICO® credit score range (670-739). But there is no ideal or exact credit score you must have as soon as you turn 20 since everyone's financial journey is different.

Is a 700 credit score good for a 20 year old?

So, given the fact that the average credit score for people in their 20s is 630 and a “good” credit score is typically around 700, it's safe to say a good credit score in your 20s is in the high 600s or low 700s.

Is 715 a good credit score for a 20 year old?

What's a good credit score for a 20-year-old? Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

What is the average credit score for a 20 yr old?

Average credit score for people in their 20s

For those in their 20s, the average credit score is 662. When you're first starting out and trying to build credit, it may take some time to gain traction.

Is 705 a good credit score for a 20 year old?

With a 705 score, you're solidly in the good range and will likely qualify for a wide variety of credit cards, loans and other financial products but might not get the best interest rates, which are often reserved for people with excellent credit (720-850).

Can a 20 year old have a 750 credit score?

A credit score of 700 or more is considered good and acceptable by most banks/lenders. Score is not a factor of the age of individual. Irrespective of one's age, 700 or more score is good. If you are just 20, that means you may not have had much exposure to credit/loans yet.

Is a 720 credit score good at 20?

If your credit score is 720, you are right in the middle. According to Experian, the average American consumer has a FICO Score of 714 as of 2021, and anything in the range of 670 to 739 is generally considered to be a good credit score.

Can a 25 year old have a 750 credit score?

The average 25-year-old is the upper limit for Gen Z and the average FICO® credit score for Gen Z (between ages 18-25 years) is 679, according to 2022 Experian® data. This falls in the lower limit of the “good” credit score range (670-739). This score is just a reference number.

Is a 775 credit score good for a 20 year old?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good.

What should my credit score be by age?

What credit score does a 21 year old start with?

This may give you a good head start on building up to a good credit score when you reach your 20s. The average credit score for people between the ages of 18-24 is 679, which falls under the lower limit of a good FICO® Score (670-739), according to 2022 Experian® data.

Is 716 a good credit score for a 20 year old?

A 716 credit score is considered a good credit score by many lenders.

Is 770 a good credit score for a 20 year old?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good.

Is a 710 credit score good at 20?

710 Credit Score: What You Need to Know. If your credit score is 710, you are right in the middle. According to Experian, the average American consumer has a FICO Score of 714 as of 2021, and anything in the range of 670 to 739 is generally considered to be a good credit score.

Is 690 a good credit score for a 20 year old?

Your score falls within the range of scores, from 670 to 739, which are considered Good.

Is 750 credit score good at 21?

A 750 credit score is considered excellent on commonly used FICO and VantageScore scales, which range from 300 to 850. The exception is if you are new to credit because a high score isn't always enough. The length of your credit history and how much debt you carry relative to your income also matter.

What race has the lowest credit score?

Credit scores by race and ethnicity

Majority Black, Hispanic and Native American communities have at least 1.5 times the rates of subprime credit scores, debt in collections and high-cost non-bank borrowing (such as payday loans) compared to majority-white communities, according to data from the Urban Institute.

How rare is a 750 credit score?

Is 759 a good credit score for a 20 year old?

Yes, a credit score of 759 is considered good. It falls within the range of 740 to 799, which is considered Very Good by most credit scoring models.

How rare is a 720 credit score?

Is 700 a good credit score at 21?

Generally speaking, a good credit score is between 690 and 719 in the commonly used 300-850 credit score range. Scores 720 and above are considered excellent, while scores 630 to 689 are considered fair. Scores below 630 fall into the bad credit range.

Can I buy a car with 720 credit score?

There is no set minimum FICO® Score to get a car loan. However, a good score at 720 or better will get you the best rate. Consider spending some time improving your credit score before shopping for your next car.

How rare is an 800 credit score?

About 21% of the American population has a FICO® Score between 800-850, according to 2022 Experian® data.

Has anyone gotten a 850 credit score?

As of April 2023, about 1.7% of the U.S. scorable population had a perfect 850 FICO® Score.

Is 760 a good credit score for a 20 year old?

Your score falls within the range of scores, from 740 to 799, that is considered Very Good.