How Does Your Credit Score Compare?

Fast Fact: Get Over It. A bad credit score doesn’t last forever. Since your credit score is a "snapshot" of your risk at a particular point in time, it changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit.

Your credit score is simply a statistical estimation of how likely you are to pay your debts and, by extension, how much credit you should have. Everyone is different—everyone has a different history, different experiences. But have you ever wondered how you compare to other Americans?

The illustration below shows cities with the best and worst credit score.

US map with chart

Source: Experian.org, 2016

Generation Gap

Here's a look at how each generation fares credit-wise. How do you stack up?

  
 Credit Score
Baby Boomers675
Generation X633
Millennials624

Source: ConsolidatedCredit.org, 2016, using Experian scoring

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2019 FMG Suite.

Share |
 

Related Content

Saving for College 101

Saving for College 101

Here’s a crash course on saving for college.

Making Sense of U.S. Household Net Worth

Making Sense of U.S. Household Net Worth

A look inside the U.S. government's statistics on household net worth.

Your Cash Flow Statement

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

 

Have A Question About This Topic?







Thank you! Oops!

Life and Death of a Twenty Dollar Bill

How long does a $20 bill last?

Password Protection Strategies

Simple steps may help you foil hackers and protect your privacy.

The History of Currency

Currency has been around for a long time. Here’s a quick history lesson.

View all articles

Historical Inflation

This calculator shows how inflation over the years has impacted purchasing power.

Doubling Your Money

This calculator demonstrates the power of compound interest.

Paying Off a Credit Card

Enter various payment options and determine how long it may take to pay off a credit card.

View all calculators

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

View all presentations

The Power of Compound Interest

Learn how to harness the power of compound interest for your investments.

The Cost of Procrastination

Procrastination can be costly. When you get a late start, it may be difficult to make up for lost time.

The Latte Lie and Other Myths

Do you know these three personal finance sayings?

View all videos