 TITLE: How Does Your Credit Score Compare to Other Americans CONTENT: ###### Written by: Kristy Welsh\n_Last Updated: September 25, 2017_\nHow 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.\nHow Does Your Credit Score Compare?\n-----------------------------------\nWhen 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.\nWhat is a Good Score?\n---------------------\nAgain, 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:\n*   **Excellent Credit:** 750+\n*   **Good Credit:** 700-749\n*   **Fair Credit:** 650-699\n*   **Poor Credit:** 600-649\n*   **Bad Credit:** below 600\nBased 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:\n*   20 & Under — average credit score is 631\n*   21 to 34 — average credit score is 634\n*   35 to 49 — average credit score is 655\n*   50 to 69 — average credit score is 700\n*   70 and older — average credit score is 730\nThe 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.\nExperian's 2016 State of Credit report showed the following facts:\n*   The national average VantageScore was 673.\n*   Consumers had an average of 2.35 bankcards with an average balance of $5,551.\n*   Average debt per consumer was up 0.59 percent from the previous year to $39,216.\n*   Mankato, Minnesota had the highest average credit score in the nation — 708.\n*   Greenwood, Mississippi had the lowest average credit score in the nation — 622. END