Unexpectedly Intriguing!
September 27, 2005

Yesterday, Political Calculations recommended that one way to increase your credit score is to continuously maintain your oldest line of credit. To underscore that point, Political Calculations presents the following chart containing data from the Experian credit bureau, which shows Experian's average credit score by age group:

Average Credit Score by Age Group

Credit scores on Experian's scale range from a low of 330 to a high of 830. Interestingly, the percentage difference between the average scores for the oldest age group of Americans versus those for the youngest age group is just 15%, which coincidentally is the weighting factor given an individual's credit history in determining their overall credit score.

In reality, an individual's credit history doesn't need to extend back into their late teenage years to enjoy higher credit scores. Generally, people in the older age groups make their payments on time, having learned at younger ages not to fall behind. Also, they are able to draw from a variety of credit options, which tends to increase credit scores compared to those who may only draw from limited options. Finally, people in older age groups tend to maintain a low debt to available credit ratio, a factor which, after an individual's payment history, is the most important aspect in the determination of their credit scores.


About Political Calculations

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations.com

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