Average credit scores vary by age, region, and how the score is calculated

There is no single "average" credit score that applies everywhere. The most widely used scoring model, FICO, produces scores between 300 and 850. According to Experian's data, the median FICO score in the United States hovers around 715 to 720, though this shifts year to year and differs by state and age group. Equifax and TransUnion, the other two major credit bureaus, use similar ranges but may report different numbers for the same person because they don't always receive the same information from creditors.

What matters more than the national average is where your score falls within the ranges lenders actually use. Most lenders treat scores above 670 as acceptable for standard borrowing, scores above 740 as good, and scores above 800 as excellent. Below 580 is typically considered poor, and lenders may refuse to lend at all or charge much higher rates. Your own score is what determines whether you get a loan, what interest rate you pay, and what deposit amounts landlords ask for.

Key Takeaways

  • Credit scores range from 300 to 850, and most lenders consider 670 and above acceptable for standard borrowing.
  • The median FICO score in the United States is around 715 to 720, but this varies significantly by age, state, and income level.
  • Your individual score matters far more than the average—it determines loan approval, interest rates, and rental deposit amounts.
  • Different credit bureaus may report different scores for the same person because they receive different information from creditors.
  • Scores below 580 are considered poor by most lenders, while scores above 800 are considered excellent.

How credit bureaus calculate your score

FICO scores are built from five categories of information in your credit report: payment history (35 percent of your score), amounts owed (30 percent), length of credit history (15 percent), credit mix (10 percent), and new credit inquiries (10 percent). A single late payment can drop your score by 100 points or more, depending on how recent it is and how late it was. Paying on time, keeping balances low relative to your credit limits, and maintaining older accounts all push your score upward.

Equifax, Experian, and TransUnion each maintain separate credit reports on you. If one bureau has incorrect information—a paid debt still listed as unpaid, for example—your score with that bureau will be lower than with the others. You can request a free copy of your report from each bureau once per year at annualcreditreport.com, the official site run by the three bureaus together. Checking your own report does not lower your score.

Why your score might differ from the average

Age is one of the strongest predictors of credit score. Younger adults typically have lower scores because they have less credit history and fewer accounts. Adults over 40 tend to have higher scores on average. Income, education level, and geographic location also correlate with credit scores, though income itself does not appear in the FICO formula—lenders see it separately when you apply for a loan.

Recent financial hardship shows up immediately in your score. A missed payment, collection account, or bankruptcy can lower your score by 50 to 200 points depending on your starting score and how severe the event is. These negative items stay on your report for seven years (ten years for bankruptcy), though their impact weakens over time. A score damaged by a single missed payment recovers faster than one damaged by multiple missed payments or a collection.

Score ranges and what lenders actually do with them

Lenders use credit scores as one input among several. A mortgage lender might approve someone with a 640 score if they have substantial savings and a stable job, while denying someone with a 700 score who has high debt relative to income. Credit card companies often set minimum scores—typically 620 to 650—below which they will not issue cards at all. Auto lenders are more flexible, sometimes lending to people with scores in the 500s, though at much higher interest rates.

Landlords also use credit scores, though they may weight them differently than lenders do. Some landlords treat any score below 600 as disqualifying. Others focus more on eviction history or collections than on the score itself. A few do not check credit at all. When you apply for housing, ask the landlord or property manager what their credit score requirement is—it varies widely by property and location.

How to find your own credit score

Your credit score is not something you are given automatically. You have to request it. Credit card companies and banks often show your FICO score for free in your online account if you are a customer. Websites like Credit Karma and Credit Sesame offer free scores, though these usually use VantageScore (a different scoring model) rather than FICO, so the number may not match what a lender sees.

If you need your FICO score specifically, you can buy it directly from FICO at myfico.com for around $20, or you can get it free through some credit card issuers. The three bureaus themselves (Equifax, Experian, TransUnion) sell scores but do not give them away. When you apply for a loan or credit card, the lender pulls your score as part of the application—this is called a hard inquiry and does lower your score slightly, usually by 5 to 10 points.

What to do if your score is below average

If your score is significantly below the median, the fastest way to improve it is to bring any past-due accounts current and keep all future payments on time. Even one on-time payment after a period of missed payments begins to rebuild your score. Paying down credit card balances also helps immediately—your score can improve within a month or two of lowering your balance-to-limit ratio.

Disputing errors on your credit report can raise your score if the errors are removed. If you see a debt you do not recognize, a payment marked late when you paid on time, or a duplicate account, you can file a dispute with the bureau that reported it. The bureau has 30 days to investigate. Removing a false negative item can raise your score by 50 to 100 points or more. You can file disputes for free; you do not need to pay a credit repair company.

Frequently Asked Questions

Is 700 a good credit score?

Yes. A score of 700 is generally considered good by most lenders and puts you above the median. You should be able to get approved for credit cards, auto loans, and mortgages at standard rates. Some lenders may still offer better rates to people with scores above 740, but 700 is solidly in the acceptable range.

Does checking my credit score lower it?

No. Checking your own score is a soft inquiry and does not affect it. Only hard inquiries—when a lender pulls your report as part of a loan application—lower your score, and usually by just 5 to 10 points. You can check your score as often as you want without penalty.

Why do I have three different credit scores?

The three major credit bureaus—Equifax, Experian, and TransUnion—each maintain separate reports on you and may receive different information from creditors. One bureau might have an account that another does not, or they might have different payment histories for the same account. This is why your score can vary by 20 to 50 points depending on which bureau a lender checks.

How long does it take to improve a credit score?

It depends on what is hurting your score. Paying down credit card balances can improve your score within one or two billing cycles. Bringing past-due accounts current takes longer—usually three to six months of on-time payments before you see meaningful improvement. Negative items like late payments and collections stay on your report for seven years but have less impact as they age.

Can I get a loan with a score below 600?

Yes, but with significant limitations. Most credit card companies and mortgage lenders will not work with you. Auto lenders and some personal loan companies will, but at much higher interest rates—sometimes 10 to 15 percent or more. Some landlords will rent to you, though many require a co-signer or higher deposit. Your options narrow considerably below 600.