Jan 6 2018

What is the Average Credit Score in America? #credit #card #for #no #credit

#what is a good credit score

What is the Average Credit Score?

Advertiser Disclosure September 19, 2013 by Gerri Detweiler

If you re wondering what the average credit score is, you re probably really wondering how your credit score compares to others. You may also be wondering if it s good enough to get approved for a loan or a credit account.

While the average credit score sounds like a simple enough figure to pin down, it s a little more complicated than you may realize.

What s My Score?

First things first. If you want to know how strong your credit is, you ll need to know your credit score. You can find out by using s free Credit Report Card. Not only will you get a truly free credit score. you ll also find out how your credit score compares to state and national averages.

Which Score?

Another thing you ll need to know when comparing your number to others is which credit score model is being used to calculate the score, and what credit score range is being used.

There are many different credit score models, including versions of VantageScore, 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 run from 501-990 or 360 840, for example.

How Does My Credit Score Compare? See your free credit score, and find out how you compare to other Americans. No credit card required.

What s A Good Score?

Again, different models have different ranges, and lenders make their own decisions about what they consider acceptable. The scores typically range form 301 to 850, with categories from bad to excellent.

How does my credit score compare to others?

  • Excellent Credit: 750+
  • Good Credit: 700-749
  • Fair Credit: 650-699
  • Poor Credit: 600-649
  • Bad Credit: below 600

Again, what s considered a good or fair credit score will depend on how the lender views it, but you can get an idea of how lenders are likely to view your applications by checking your score and seeing how it compares to others.

Average Credit Score

Still hoping to find some numbers?

As of the 2nd quarter of 2013, the average VantageScore for consumers with an existing auto loan and lease was 761; for those with a bankcard it was 796 and for those with a mortgage it was 819. (This is using the classic version of the VantageScore which runs on a scale from 501-990. Data from Experian s IntelliView tool.)

As of October 2012, the average FICO score is 689 according to

For up to date credit score averages including how your score compares to others in your state and nationwide, sign up for s free Credit Report Card .

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