(Lending Tree) Americans with credit scores over 800 with a credit history shorter than ten years have an average total debt of $98,408. Gen Xers have an average of 2.7, Baby Boomers have 2.4, Silent Generation Americans have 2.3, and Gen Zers have 2.2 credit inquiries in the past two years, on average. American credit score statistics show that Millennials also have the highest average number of credit inquiries in the past two years, with 2.8, among all Americans with excellent credit scores. Baby Boomers with excellent scores have an average of 7.8 open accounts, while Gen Zers and Silent Generation Americans only have 7.1 open accounts, on average. Millennials with credit scores over 800 have the highest average number of open accounts with 8.3, followed by Gen Xers with 8.1. (Lending Tree) Americans with excellent credit scores have 7.9 open accounts, on average. Moreover, the credit statistics show that Baby Boomers with credit scores over 800 have an average utilization rate of 5.7%, while Gen X Americans have the highest average utilization ratio of 6.3%. Silent Generation Americans have a slightly higher average utilization rate of 4.8%. (Lending Tree) Americans with credit scores over 800 have an average credit utilization ratio of 5.7%.Īccording to the demographics, Gen Zers and Millennials with excellent credit scores have the lowest average credit utilization ratio among all generations, with an equal rate of 4.6%. Finally, credit score demographics show that Gen Zers have the lowest average credit card limit at only $41,754. Furthermore, the average credit card limit of Silent Generation Americans with excellent credit scores is $55,966, while it is $52,506 for their Millennial counterparts. (Lending Tree) The average credit card limit of Americans with excellent credit scores is $58,514.īaby Boomers with credit scores over 800 have the highest average credit card limit of $60,085, followed by Gen Xers with $59,500. According to the credit scores by age statistics, Americans with excellent credit scores from the Silent Generation have an average total debt of $100,429, and Gen Zers have the lowest average total debt at $100,429. They are followed by Millennials with an average total debt of $147,249 and Baby Boomers with $126,145. Looking at the stats by generation reveals that Gen Xers have the highest average total debt of $165,602 out of all Americans with credit scores over 800. (FICO) Americans with excellent credit scores have an average total debt of $138,154. In 2019, the percentage reached 22.3% before reaching 23% in 2020 and then 23.3% in 2021. FICO score statistics show that the biggest increase of 1.1% was recorded in 2018 when the share of Americans with excellent scores jumped to 21.8%. In 2016, 20.4% of Americans had a credit score of over 800, which increased slightly, to 20.7%, in 2017. At that time, only 18.5% had exceptional credit scores before their percentage jumped to 19.3% in 2014 and 19.9% in 2015. Statistics released by FICO reveal that the share of Americans with excellent credit scores of over 800 has been increasing every year since 2013. The FICO scores of 4.8% of American consumers did not change between 20.Ģ3% of US consumers say they never check their credit scores.Ĭredit Score Facts About Americans With Excellent Scores As of April 2021, 23.3% of Americans have a credit score between 800 and 850. The average VantageScore of Gen Z Americans in 2020 was 654.Īmericans with credit scores over 800 with a credit history shorter than ten years have an average total debt of $98,408.Ĥ6.4% of Americans have either an excellent or a very good FICO credit score. Minnesota has the highest statewide credit score average in the US, with 742, in 2021.Īs of April 2021, 23.3% of Americans have a credit score between 800 and 850.Īmericans with credit scores over 800 have an average credit utilization ratio of 5.7%. Silent Generation Americans have an average FICO credit score of 760. The average FICO credit score of all American consumers is 714. Additionally, the article contains data about consumers with excellent credit scores, the effect of the Covid-19 pandemic on the credit of US consumers, and tons of other interesting facts. If you want to learn about the average credit scores, utilization rates, debts, number of open accounts and credit cards, and much more, feel free to check them out. If credit scores are important to you, or you are just curious, the credit score statistics below will provide you with all kinds of insight into today’s American state of credit. Financial institutions, car dealerships, and even potential employers and landlords sometimes check credit histories. Credit scores are essential to many people in the USA.
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