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Can A 19-Year-Old Achieve A 700 Credit Score?

Average Credit Score By Age

Can A 19-Year-Old Achieve A 700 Credit Score?

0 To 700 Credit Score At 18 | How To Build Your Credit

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What Should A 19 Year Olds Credit Score Be?

In 2022, FICO credit scores for individuals in different age brackets varied. It’s important to understand what a 19-year-old’s credit score should ideally be. The average credit scores for different age groups in 2022 were as follows:

  • For individuals aged 18 to 25, the average credit score was 679, which falls within the “Good” range.
  • Those aged 26 to 41 had an average credit score of 687, also categorized as “Good.”
  • The age group between 42 and 57 had an average credit score of 706, indicating a “Good” credit score.
  • Individuals aged 58 to 76 had the highest average credit score, with a score of 742, which is considered “Very Good.”

These scores provide a benchmark for evaluating the creditworthiness of a 19-year-old, as credit scores tend to improve with age and financial history.

Can You Have A Credit Score At 19?

Certainly, it’s possible to establish a credit score at the age of 19. In fact, you can start building your credit history as early as 18, which is the legal minimum age to obtain a credit card and initiate the process of creating a credit score. Additionally, for those under 18, becoming an authorized user on someone else’s credit card can be a way to kickstart their credit journey even before they reach the age of 18. This practice allows young individuals to begin establishing a credit history before they come of legal age to apply for their own credit cards. Please note that this information is accurate as of October 31, 2022.

Details 36 Can a 19 year old have a 700 credit score

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0 to 700 CREDIT SCORE at 18 | How to Build Your Credit
0 to 700 CREDIT SCORE at 18 | How to Build Your Credit

But if you’re in your 20s and just starting out, a score of 700 or higher may be tough as you’re just establishing your credit history. In fact, according to Credit Karma, the average credit score for 18-24 year-olds is 630 and the average credit score for 25-30 year-olds is 628.Definitely, you can build credit at 19, since 18 is the legal minimum age to get a credit card, this is also the minimum age to create a credit score. On the other hand, being an authorized user of someone else’s credit card allows kids(less than 18 years) to begin establishing credit before they reach that age.Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 770 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders.

FICO Average Credit Score by Age Bracket and Year, 2022
Age Bracket 2022
18–25 679 (Good)
26–41 687 (Good)
42–57 706 (Good)
58–76 742 (Very Good)

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