There are a few reasons for this: It’s important to realize, though that you shouldn’t think you are doing well score-wise, just because you are above average for your age group.
Sure, the average may be 638 for the 18 to 24 age group but truth be told, you can somewhat easily hit the low 700s in your early 20s if you do things right.
We discovered the product does a lot more and we were sold!
All of the interfaces are easy to use...system creates great reports that simplify registration and provide the data needed by the referee.
The median means it’s exactly in the middle: 50 percent of people have a lower score, 50 percent have a higher score. So in order to judge their performance, we have to turn to a different scoring model.
This will give you a much better idea of the credit score average for Americans and removes the massive bias of outliers. As an alternative, let’s use the Vantage Score, which Experian reports on each year.
— 704 Wausau, Wisconsin — 702 Fargo, North Dakota — 702 Cities with the worst average Vantage scores: Greenwood, Mississippi — 612 Albany, Georgia — 622 Riverside, California — 624 Harlingen, Texas — 628 Laredo, Texas — 633 You probably notice that those cities with the lowest average scores tend to be in the southern half of the country (both the southeast and southwest).
Meanwhile, the cities with the best scores are in the northern Midwest.
Looking to get more cards and use the same strategy?
If you do, it is strongly recommended that you only go with no-annual-fee cards.
Just check the forum and you will see people who are 18, 19 and 20 with FICOs either in the high 600s or low 700s.