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The average FICO credit score hit a new record in 2019. The average credit score has increased 14 points since 2010 and reached 703, according to Experian's 2019 Consumer Credit Review.
The average credit score in the U.S. have been steadily increasing since 2013. This positive trend was driven by a shift in consumer's credit behavior to more responsible debt and credit management. Thus, consumers accrued fewer past-due payments and used a smaller portion of their available credit.
It appears that the biggest contribution to the improvement of average credit scores was made by millennials - they helped boost the national average with 25 points over the past several years. The average score for millennial consumers was 668 in 2019.Here's average credit scores by generation in 2019:
- Generation Z (19-23) - 667
- Millennials (24-39) - 668
- Generation X (40-55) - 688
- Baby Boomers (56-74) - 731
- Silent Generation (75+) - 756
As you may noticed, credit scores tend to correlate with age. That's partly because 15% of your FICO Score is length of credit history, meaning older consumers simply had more time to build their credit. So, in general, the older you are, the higher your credit score.Other key findings:
- Highest credit scores (on average 756) belong to the silent generation (74+)
- 50 states had average credit scores in the range of 670 to 739
- Consumers in Minnesota maintain their reputation of residents with higher credit scores for eighth straight year