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How Age Affects Your Credit Score


Is it possible for a younger person to have a high credit score, say above 720?  Yes, it is possible, but if you are under 29, chances are high that your credit score is around 635, which is the average credit score for those between the ages of 18 and 29.

Even young people who pay their bills on time and don't accumulate too much debt tend to have lower credit scores because about 15% of one's credit score depends on the length of the credit history, meaning the time that one has been using credit.  Therefore, older people who have a credit history of twenty or more years, get a boost in their credit scores simply because they're older.

One of the three major credit bureaus released information in 2005 about the average credit score for various age groups.  These figures are as follows:

Age Group                        Credit Score

18 - 29          637
30 - 39           654
40 - 49           675
50 - 59           697
60 - 69          722
70 plus          747