It really depends on what you have done, NOt your age.. What is on your credit, How you've paid and when you've paid..
Im trying to compare my score to what others may have......whats the avg score?
Your score at 20 will not be a "mature" score... You haven't had any real time to show payment or account history...
I'd do some of the suggested things to help your score, but just keep in the back of your mind that a few more years will get you into a better idea of where you stand in the face of a bank.
A score especially when dealing with a mortgage is only a portion of what is looked at. They look at length of credit and what type of tradelines you have had and what the limits are. They also look at your payment history and even require that you have so many open tradelines of so much value.
For example, if you are 20 years old with 1 credit card with a $500 limit. You have paid it ontime for the last 6 months but that is all you have to your name. A credit check might give you a mid 700 score. If you were 25 years old, had a slightly lower score, but you have several tradelines and credit cards with high limits, low balances, that are always paid on time, the bank would be more likely to lend to you than the guy with no credit depth but a high score. The score is not everything.
This of course is how mortgage processes are looked at. If you are looking for a car loan, they pretty much go on credit score alone, so you might be ok with the first situation. HTH
well im 20, but i dont think my score is going to be average for a 20 year old. I have had 2 car loans in my name, a house and 2 credit cards, all of which have never had a late payment and the cards have never seen a min. balance payment. Although one card has a high amount on it (about 60%). my score is like 650. It was higher before I put a house on it . I would consider this a real score though.
741 at 20 is a fake score. Mine was like that too. Get a real loan or somthing and i bet that score drops ATLEAST 100 points. Im working back up from almost 600 now im high 6's with a mtg and 2 car loans in my name. If your looking to buy a car I would for sure give it a try though because they do seem to base it 95% off your number score. Just know that when you get it your score will most likely fall quite a bit.
No need for any big loans yet, but maybe sometime soon I will take out a small personal loan to get myself a better DD.
true then just build that fako as high as you can The higher the better obviously. I cant wait untill I can hit 700's again. I think im in the 680's now.
idk that there is an avg. i know ppl who have cards they dont use (750+ scores) and some who dont have any credit.
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750+ at 20 I never even heard of a fako that high
not true I had a 755 at 23 after I sold my house. Having 40k in the bank after the sale helped a lot but after getting a new mortgage my credit score went back down to 640's.
in 23, almost 24. Have a house (bought 1 year ago) and never a late payment in anyting, ever. My score is 672. Just checked because i just got my PEL heh.
im 24 i own 2 cars, one still making payments, a house, and a few credit cards. i have been building my score up from the age of 16. im current at 738.
building your score since 16? looks like I got ripped off again, I couldnt start untill I was 18
i had a parent to co-sign with a local bank
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