What is a GOOD Credit Score in 2024? What's the Average Credit Score Overall & By Age / Generation?
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- čas přidán 7. 09. 2024
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#creditscore #ficoscore #credit
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I’m 24 and I have a 756 Experian, 740 Equifax, and 776 in Transunion. Only 3years worth of history. Started at age 21
If you handle credit well from the start, your score can be very good in a relatively short amount of time. Congrats!
Do your mom and dad have good credit did you get your credit cards from your parents 😏
I'm on track to have a similar story 🤞🏼
I’m almost on track! Im 19 with a credit score of 737! My mom had a credit score of 645 and she put me on her credit card. So I kinda built off where she left it
The credit scores never stay the same keep that in mind
As soon as a ding happen Experian is the first to report it. As soon as you so something good they are the last to report it.
23 with a 705 without any real constant income just side hustling . Just graduated and got certified for my career and in training for another it’s only up from here.
Glad to be 60 points above average for my age. Not bad for somebody with a GED😅
I'm in the high 700s but Transunion sure can be a fickle mistress. I can bounce around by 10 or more points on TU. Good to see you Adam.
28 with a 775 score. Very proud of myself and I’ve worked very hard to get here.
Over the years people I see get stuck on the score thinking thats the big deal. Not understanding a thick profile helps way more than the score.
Having few cards and saying 800s I can get anything is not realistic, then don't understand why they said no. And the next guy with a lower score but thicker profile get the ok.
Im 29 with a Experian: 714 Transunion: 754 Equafax: 719
827 Ex, 802 Eq, & 802 Tr now, the highest it has ever been 839 in my case 🎊🎉😊
May the God send people like you to every corner of the globe. May all the needy people come in contact with you! Haha. Just kidding! Your financial help is greatly appreciated
I’m 27 and my score is 760 right now. I spent no money on myself for a year. Paid off ALL my debt and my credit score went up 140 points in just a year! So happy to have a clean slate and continue to live way below my means
kinda low for 27 years but still
This is my goal paying off my students loans in the next year , I’m at 705 now so if I do that I’ll be close to 850 after knocking out some cards I’m using , congrats gang
Always enjoy your educational and informative videos
This is a God send. Thank you for giving everyone this advice
If you make payments on a credit card, you likely have crap for a credit score. 100% of the time, you can get a loan with lower interest, and unlike credit cards, the interest can't change. Never pay minimum due payments. Learn amortization schedules. Yep, I have over 820 credit score. Never, not once, ever, use revolving credit to buy anything unless you pay the entire balance under 30 days. Wish this video provided sound advice.
This would be interesting if you could give us examples of what the scores translates into in terms of interest rates for large ticket items such as car financing or mortgages etc.
The nerve this govt judging our credit with their horrific track record
I’m 19 is 747 I have 2 credit cards and auto loan for a car I’m still working on it l hope good luck for everyone ❤
My Fico now 785 Trans, Experian and 3 cards in the last 6 months.
Thanks to you and all the information throughout the years im can happily report this millennial has excellent credit. 💳 💯
We have 840s that’s good in any means but we still get denied for ink unlimited at 0/25 …
What reason does Chase give? Is it income related?
@@ProudMoney they said insufficient personal and business history, and my dad, the applicant, was legit applying for that card to track Uber spendings. He was still turned down despite we were offering to show chase his past three months of Uber earnings … they told him to start with freedom rise, really? He has 840s and 15 years of credit history in his name
@@Shawn.credit "another opportunity for another bank to approve you"
People really need to look into community banks or credit unions, not be so fixated on big banks like Chase or BOA. Many times, I had new bank customers because they were turned down by Chase, even though they had depository relationship with Chase (usually they even had $100K+ Certificate of Deposit with Chase but still declined!). Usually it was something silly like customer wanted to borrow $3K - $5K but Chase's required minimum was $10K. Also, they were never told they could get a CD-secured loan which has a much lower interest rate than an unsecured loan. Haven't met a customer with CD's with a low/average credit score, they are always high score people. Community banks are also better for entrepreneurs/small business owners; best to start a relationship EARLY.
I’m a millennial and my score is 771, and I’ve only been using credit for the last 3 years.
Also shouldn’t the “very good” tier start at 760 since people who are in the 760’s get the same loan rates as 850?
There should be more information on what a good average age of credit is.
I don’t know why Experian always gets pulled. Why do they tend to focus on Experian across multiple companies? Do they tend to focus on what is the lower score across the three and it snowballs?
Great content as always, thanks Adam!!!
i got 703 took me 6 months and I'm 44 year old
Adam did you see Giant Eagle has a new Visa card? Would love to see your thoughts/review 😊
Feeling good about my 780 at 25 haha, currently running 3 CCs, will be adding a 4th soon
Okay I’m 38 years old
Experian 748
Equifax 748
Trans union 648
Guess I’m doing better
Then most people in
The credit game
Is your TransUnion really 100 points less than the others or is that a typo?
My charge off fell of from
The other two reports
And it doesn’t come off
Trans union report until
November 2024
Why would you want a credit card
I pay cash for everything I’m in the gen X era. I retired at 45 I’m in my 50’s but the benefits don’t help me on the credit cards and I only travel about one time across the pond a year . Rest of the time , I drive in the states .
I see no purpose to have one
The average person won't retire at 45........ Usually around 65.....
Don't believe this boys and girls, Anytime someone says they "pay cash for everything" they have NO idea what they're speaking about. Why would you pay cash...is the better question.
Everything is not for you to understand I guess. I have decent credit. It works for me
Having good credit makes it cheaper to buy a house, which is the most expensive item most people will ever purchase.
It is the news tradition to report on such updates.
What are the next vacations, if any are planned?
As long as you have credit cards you have years to go to build your credit history profile the credit score is not really important you can have a perfect 800 credit score and get turned down and a person with a 699 get improved for the credit card with a high limit on it 🤫🤭✌️💳🏦
26 at 763 honestly much higher than i thought it would be at lmao
I just started 4 years ago my credit score is 836
Hello there, I'm with the silent generation.
One my credit reports has me in the 770s and another one has me in the 820s. You ever seen that before?
Yes, depends on the credit bureau but also could be a difference between FICO and VantageScore models or even scores specific to credit cards vs mortgages, etc. I did a video a while back explaining why there are so many scores that can be so different.
Same with me. Equifax still counts an old jewelry store credit line that was closed felrom like 11 years ago so Im at 818 with them. But Experian and Transunion dont list that account so im only at around 780 with them. Another thing that can cause a gap is sometimes banks/lenders will only check one or two credit agencies. So you may have inquiries that show up on one report but not the others.
Your chart makes A lot more sense and is reality
It’s not that hard…. If you have no credit and have a good job bite the bullet and get a secured card worth $200 limit if ya cant get approved for anything….. give them $200 and use that card for gas purchases or whatever…. The day they make that statement available pay it off in FULL. wash rinse repeat…. Eventually, you will be getting credit card offers in the mail so often it will annoy you…… be responsible and ALWAYS PAY THE FULL BALANCE…. your credit will go through the roof in one year. Simple.
Back when I was still in the game, my credit score was in the 820's. I don't even check anymore. Is that good? I'm out of the game.
That is a good score. You might still have a good score, depending on when you left the game.
My Fico scores are 50 points higher than my Vantage scores, I don’t understand it. Why?
My Fico scores are higher than my Vantage scores, too.
yeah my fico is about 20 points above vantage right now
Vantage is a lot more sensitive to recent activity and credit utilization.
How much weight does a car loan have a friend has a car loan and chase freedom card and that's all and has a 800 score with only 2 accounts..
24 at 761
I know my credit cards are holding me back. I make all my payments on time.
I’m 47 my credit score is 797
Everyone hear has great scores
Credit score is worthless and just theater. It can easily be game and lenders know this. Lenders told me they care more about debt to income ratio and income verification now. My daughter has a 700ish credit score when she just turn 18 because I had her as an authorized user in my Amex platinum since she’s 16.
Not true.
@@mehere9034 enlighten me
Debt is the new slavery! Pay off your loans, and watch your credit score drop.
@proudmoneyI only have credit cards on my credit. My car is in my company and i dont have a mortgage. I was told i need different types of credit to get the highest score. What can i do, what credit can i take out? Do i take a personal loan just to get something other then credit cards on my report to get a higher score?
I have only credit cards too, but my scores range from 790 - 815 depending on which credit bureau, so you can still get a high score with only credit cards. However, you should NEVER have even 1 late payment (CREDIT KILLER!), keep Utilization Ratio preferably below 10% on all cards, and long length of credit history helps (really depends on your age). Don't go too crazy getting new credit cards for sign-up bonuses, just 2 per year (6 months apart is best).
Since I'm a senior, I have opposite problem, I paid off my mortgage 2 decades ago, but that history only stays on report for 10 years! And I don't need a car loan either. Last year, I received a pre-qualified invitation from Capital One for a Savor CC, but when I actually applied, I was turned down because I no longer had a mortgage or loan history on my report. 10 CC's and only 1 card had an outstanding balance of $183, my CBR was 812 at that time. Needless to say, I was PISSED! swore off Capital One since then (already have higher tier card issuers anyway).
If you have student loan it should be reported to bureau. You could also consider buying something like a mattress or appliance that has a 0% interest for 12 months deal (lots of those deals around Christmas season).
While it certainly helps to have a mortgage or even an auto loan , if you have a clean report you absolutely can without question have an 800+ score without a loan reporting.
Just got 6 months building my credit, because i’m new in US, Experian give me 769, the others ones gives me less
First ❤😊
🏆🏆🏆
I arrived in this country 15 months ago and had no credit history. I have a 747 today.
is 734 at 19 good?
No. You’re way behind.
@@mathewrivers8064 lick my tip dry lil bro
No that’s actually not that good you have no history. Nothing for them to base it off of. Worry about other things
What’s the max score - 850?
Yes
For "classic" models yes (your base FICO 8, FICO 9, FICO 10 etc are all "classic"). Industry specific models (auto, bankcard) use a 250-900 scale instead of 300-850.
Yes, my current credit score is 834, and I am working towards achieving a perfect score of 850.
Mines 643 smh
699 borderline hahahaha. Maybe for someone who games the credit system
Im 21 with 775 💀
✌🏻🤟🏻👊🏻
My is 450 hhh 😂😂😂 kinda like golf you want low scores
WfG fico 850 here