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As of 2023, the average U.S. credit score was 715, says Experian, one of the three credit reporting bureaus. A score of 715 is considered "good" by Experian's standards.
There are several active generations of FICO credit scores: FICO 98 (1998), FICO 04 (2004), FICO 8 (2009), FICO 9 (2014), FICO 10 and FICO 10T (2020). [27] [28] [29] A new type of FICO score named UltraFICO score was released in 2019. [30] The FICO 95 credit score released in 1995 and Equifax FICO 98 scores are no longer in use.
Meanwhile, average FICO Scores remain healthy, and increased by a point from 714 to 715 in 2023, which places the average FICO Score in the higher end of the good credit score range.
Households with the lowest credit scores – between 550 and 599 – saw their average scores jump by 20 points from April 2020 to April 2021, the largest improvement across all credit score tiers.
Credit scores usually range from 300 to 850 showing the customer's creditworthiness. A customer with a high credit score shows that they are creditworthy and banks will have no problem giving them a loan. If a customer has a low credit score then banks would be hesitant to give out a loan and if they do it might be with a higher interest rate. [7]
Credit Karma: Daily TransUnion & Daily Equifax full reports [8] TransUnion, Equifax [8] Sometimes [9] VantageScore 3.0 [10] Credit Sesame Monthly summary [11] TransUnion [11] Last 4 digits only [11] VantageScore 3.0 [11] Equifax Core Credit Monthly summary [12] Equifax Last 4 digits only [12] VantageScore 3.0 [12] FICO Free Credit Score Plan ...
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