Advertiser Disclosure

Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). However, the credit card information that we publish has been written and evaluated by experts who know these products inside out. We only recommend products we either use ourselves or endorse. This site does not include all credit card companies or all available credit card offers that are on the market. See our advertising policy here where we list advertisers that we work with, and how we make money. You can also review our credit card rating methodology.

Average Credit Score In America: 2023 Credit Score Statistics

Alex Miller's image
Alex Miller
Alex Miller's image

Alex Miller

Founder & CEO

295 Published Articles

Countries Visited: 34U.S. States Visited: 29

Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business...
Edited by: Keri Stooksbury
Keri Stooksbury's image

Keri Stooksbury


35 Published Articles 3228 Edited Articles

Countries Visited: 47U.S. States Visited: 28

With years of experience in corporate marketing and as the executive director of the American Chamber of Commerce in Qatar, Keri is now editor-in-chief at UP, overseeing daily content operations and r...

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

Your credit score is one of the most important things you will carry with you throughout your lifetime. It has an impact on almost every big purchase you make but can be affected by almost every little purchase you make.

Understanding exactly what a credit score is, what affects it, what the average credit score is in America, and the basic stats and facts around a credit score are important. In this post, we have everything you need to know about credit scores in the U.S.

9 Quick Credit Score Facts and Statistics

  1. The average credit score in the U.S. is 714.¹
  2. The average credit score for Americans ages 18 to 25 is 679.¹
  3. People older than 77 have the highest average credit score of 757.¹
  4. Low-income families have a median credit score of 658.²
  5. Asian Americans have the highest credit score of any race at 745.³
  6. Black Americans have the lowest credit score of any race at 677.³
  7. Credit scores are basically even when comparing men to women.⁴
  8. 21% of Americans have a credit score in the 800 to 850 range.⁵
  9. Your payment history accounts for 35% of your credit score.⁵

What Is the Average Credit Score in the U.S.?

Average Credit Score Overall

To get a good idea of where your credit stands, it is also important to know where the average credit score in America sits. According to FICO, the average credit score as of February 2023 is 714. That is unchanged since 2021.¹

Average Credit Score by Age

A credit score can build up over time, and that is why a lot of younger generations will have lower credit scores. When looking at the average credit score by age, you can see that credit scores mostly increase. This is the average credit score by age, according to Experian:²

Average Credit Score by Generation 2022
Image Credit: Upgraded Points

Average Credit Score by Income

It’s not just age that plays a role in your credit score. You can see differences in credit scores among income levels. According to a report by the Federal Reserve Bank of New York, low-income families have a median credit score of 658, moderate-income families have a median credit score of 692, middle-income families have a median credit score of 735, and high-income families have a median credit score of 774.³

The Federal Reserve Bank of New York report also states that credit scores are highly correlated with income and are important both for credit access and for basic necessities, such as renting an apartment or opening a utility account. The median score of 658 in lower-income families suggests that many borrowers are unlikely to have access to affordable credit as those with scores above 720.

Average Credit Score by Race

Asian Americans have the highest average credit score of 745, and Black people have the lowest at 677. In between those are non-Hispanic whites at 734, Hispanic whites at 701, and all others at 732.³

Average Credit Score by Gender

Men and women have credit scores that are essentially the same. Men have an average credit score of 705, while women have an average credit score of 704. All groups have seen an increase of 10 points over the past 5 years.⁴

Average U.S. Credit Score Ranges

Now that you have a good idea of average credit scores by age, income, race, and gender, we can dig into what exactly a credit score is and why that number is so important.

A credit score predicts how likely you are to pay back a loan on time. A scoring or number model uses information from your credit report to determine a score. Your credit score can range from 300 to 850. The higher your score, the more responsible you seem to lenders and the more likely you are to receive the loan or other credit product you are applying for.

Credit Score Ranges
Image Credit: Upgraded Points

Score ranges and what they mean:

  • 300 to 579: Poor — Your score is well below the average score of U.S. consumers and demonstrates to lenders that you are a risky borrower.
  • 580 to 669: Fair — Your score is below the average score of U.S. consumers, though many lenders will approve loans with this score.
  • 670 to 739: Good — Your score is near or slightly above the average of U.S. consumers, and most lenders consider this a good score.
  • 740 to 799: Very Good — Your score is above the average of U.S. consumers and demonstrates to lenders that you are a very dependable borrower.
  • 800 to 850: Excellent — Your score is well above the average score of U.S. consumers and clearly demonstrates to lenders that you are an exceptional borrower.

As of May 2023⁵, the percentage of Americans who fall into each credit score range is below:

Credit Score Ranges in American 2022
Image Credit: Upgraded Points

So where do these numbers come from? A credit score is calculated by using information from your credit report — such as payment history, the amount of debt you have, and the length of your credit history — but different scoring models use different factors.

Different Credit Scoring Models


The most widely used credit scores are FICO Scores, the credit scores created by Fair Isaac Corporation. 90% of top lenders use FICO Scores to help them make billions of credit-related decisions every year. FICO Scores are calculated based only on information in a consumer’s credit report maintained by the top 3 credit bureaus: EquifaxExperian, and TransUnion.

By comparing this information to the patterns in hundreds of thousands of past credit reports, FICO Scores estimate your level of future credit risk, or how likely you are to repay a loan on time.⁵

FICO scores are generally calculated using 5 categories of information contained in your credit reports, with varying weight given to each:⁵

  • Your payment history (35%)
  • The amounts you owe, or credit utilization (30%)
  • The length of your credit history (15%)
  • The mix of your credit accounts (10%)
  • Your new credit accounts (10%)


VantageScore is a consumer credit rating model developed by the top 3 credit bureaus (Equifax, Experian, and TransUnion) in 2006 as an alternative to the FICO score model.

Calculated with 6 categories of information contained in your credit reports, VantageScore assigns weights to each factor according to their level of influence:⁶

  • Your payment history (41%)
  • Depth of credit, or the types of credit you use and how long you’ve used it (21%)
  • Your credit utilization, or the percentage of your credit limits you’re using (20%)
  • Your recent credit behavior (11%)
  • The amounts you owe (6%)
  • Your available credit (2%)

Who Will Check Your Credit and Why

It is important to keep a high credit score for multiple reasons. Creditors use your credit score to help make a decision on whether you will be able to pay back the money you are requesting to borrow. Your credit is checked when applying for financial products, like a credit card, car loan, mortgage, apartment lease, or student loans.

Hard vs. Soft Credit Check

Hard credit checks, or hard inquiries, are when a lender or credit card issuer checks your credit when deciding on whether or not to approve you for the loan you are applying for. Hard credit checks occur when you apply for a mortgage, loan, or credit card. You should always be asked to approve a hard credit check, and you should be notified after the credit check is complete. A single hard inquiry won’t have a huge negative impact, but applying for multiple lines of credit in a short period of time could lead to a hit on your credit score and lenders considering you a higher risk.

Soft credit checks, or soft inquiries, happen when a company checks your credit as part of a background check. For example, this may occur when you get credit card offers from your bank or a background check when applying for an apartment. These inquiries will not affect your credit score.

Checking your own credit is a soft credit check and won’t affect your credit. It is always a good idea to know what your credit score is and if it has gone up or down. You can check your credit by visiting sites such as Before entering private information on a site, confirm that the site is legitimate.

Hot Tip:

In our article, “What’s the Difference Between a Hard and Soft Credit Check?” we further explain the differences between the 2 types (with common examples of both) and explain how each check will impact your credit.

How To Improve Your Credit Score

There are many ways to improve your credit score if it’s not in the range you would like it to be in.

Here are some things to consider when trying to improve your credit.

  • Don’t miss a payment. Pay all your bills on time every month.
  • Pay down balances on revolving credit accounts.
  • Try to get ahead on past-due accounts.
  • Limit the amount of credit you are applying for.

There is no exact timeline for improving your credit score. It all depends on how many negative marks you have on your credit, the types of negative marks, and your current credit score. Be patient, and as you start to pay off accounts, small payments are better than missing payments.

Final Thoughts

Whether you have an excellent credit score or are working on rebuilding a bad credit score, it is important to always have a full understanding of how credit scores work and what has or will impact your score.

If you still have additional questions on credit score, keep on reading through our FAQ section for more information, or you can leave a comment and ask us below!


1. Horymski, C. (2022, February 22) What Is the Average Credit Score in the U.S.? Experian.
2. Kramer-Mills, C., Landau, R., Scally, J. (November 2020) The State of Low Income America: Credit Access & Debt Payment. The Federal Reserve Bank of New York.
3. Elite Personal Finance. (2022, March 4) Average Credit Score in American 2022.
4. McGurran, B. (2020, February 28) Women and Credit 2020: How History Shaped Today’s Credit Landscape. Experian.
5. My FICO. What is a Credit Score.
6. VantageScore. The Complete Guide to Your VantageScore.

Frequently Asked Questions

Is it free to check my credit?

According to the FTC, you’re entitled to 1 free copy of your credit report every week from each of the 3 nationwide credit reporting companies through December 2023. Order online from, the only authorized website for free credit reports, or call 877-322-8228. You will need to provide your name, address, Social Security number, and date of birth to verify your identity.

Which credit score do lenders look at?

When applying for things such as personal loans and credit cards, most lenders will use your FICO Score.

Which credit report is the most accurate?

FICO Scores are what lenders consider the most accurate. The FICO score is used by more than 90% of major U.S. lenders.

What are the 3 main credit reporting agencies?

The 3 main credit reporting agencies are Equifax, Experian, and TransUnion.

What is a good credit score?

Generally, credit scores between 580 to 669 are considered fair and 670 to 739 are considered good.

How does a person with a bad credit score rebuild their credit?

There is no quick fix to repairing your credit but there are multiple ways to start to rebuild your credit score. You can get a credit card and use it responsibly and pay it off at the end of every month. You can also start to pay off any debts or bills you are behind on.

How long does it take to clear a bad credit history?

According to Equifax, most negative information generally stays on credit reports for 7 years. Bankruptcy stays on your Equifax credit report for 7 to 10 years, depending on the bankruptcy type. Closed accounts paid as agreed stay on your Equifax credit report for up to 10 years.

Alex Miller's image

About Alex Miller

Founder and CEO of Upgraded Points, Alex is a leader in the industry and has earned and redeemed millions of points and miles. He frequently discusses the award travel industry with CNBC, Fox Business, The New York Times, and more.


Deluxe Travel Provided by UP Pulse

Get the latest travel tips, crucial news, flight & hotel deal alerts...

Plus — expert strategies to maximize your points & miles by joining our (free) newsletter.

We respect your privacy. This site is protected by reCAPTCHA. Google's privacy policy  and terms of service  apply.

Deluxe Travel Provided by UP Pulse Protection Status