What Is the Average Credit Score of a 19-Year-Old?

A credit score is a three-digit number, typically ranging from 300 to 850, that represents an individual’s creditworthiness and financial behavior. It influences access to various financial products and services. A strong credit score can lead to lower interest rates on loans, better credit card terms, and impact housing and insurance applications.

Credit Score Averages for Young Adults

The average FICO credit score for individuals aged 18 to 26, often referred to as Gen Z, typically falls around 680 to 681. This score is generally considered to be in the “good” range. This average is lower than for older demographics, as young adults are just beginning their financial journeys and have a more limited credit history. Building a comprehensive credit profile takes time, leading to lower average scores for this age group.

Key Elements Shaping Credit Scores

Credit scores are calculated based on several components, with payment history and amounts owed holding the most weight.
Payment history, accounting for approximately 35% of a FICO score, reflects whether bills are paid on time. Consistent, timely payments are crucial, as even a single late payment can negatively impact a score.
Amounts owed, or credit utilization, makes up about 30% of the score and assesses how much of available credit is being used. Keeping credit card balances low relative to credit limits, ideally below 30% utilization, is generally recommended.
The length of one’s credit history, representing about 15% of the score, considers the age of the oldest account and the average age of all accounts. A longer history of responsible credit use is beneficial. New credit inquiries and recently opened accounts account for approximately 10% of the score. Opening multiple new credit accounts in a short period can signal higher risk.
Finally, the credit mix, making up the remaining 10%, evaluates the diversity of credit types, such as revolving credit (credit cards) and installment loans (auto loans, student loans).

Establishing a Credit Profile

For a 19-year-old starting their credit journey, several steps can help establish a positive credit profile.
One approach involves becoming an authorized user on an established credit card account of a trusted adult, such as a parent. This allows the individual’s credit report to reflect the primary cardholder’s positive payment history, provided the account is managed responsibly. The authorized user benefits from the account’s history without being legally responsible for the debt.
Another effective method is applying for a secured credit card. A secured card requires a cash deposit, which typically becomes the credit limit. This deposit minimizes risk for the lender, making it easier for individuals with limited credit history to qualify. Responsible use, including making on-time payments and keeping balances low, is reported to the credit bureaus, helping to build a positive history. After a period of consistent, responsible use, typically 6 to 18 months, some secured card issuers may offer to convert the account to an unsecured card and refund the deposit.
A credit-builder loan offers another structured way to establish credit. With this type of loan, the loan amount is held in a locked savings account or certificate of deposit, and the borrower makes regular payments over a set period, typically 6 to 24 months. These payments are reported to the credit bureaus. Once the loan is fully repaid, the funds are released to the borrower. This demonstrates consistent repayment behavior and builds a positive payment history.

Accessing Your Credit Information

Every consumer is entitled to a free copy of their credit report from each of the three major credit bureaus—Equifax, Experian, and TransUnion—once every 12 months. This can be obtained through AnnualCreditReport.com, the only federally authorized website for free reports. Reviewing these reports is important for verifying the accuracy of the information and identifying any errors or signs of fraudulent activity.
While credit reports provide detailed information about credit accounts and payment history, a credit score is a three-digit number derived from that data. Many credit card companies and financial institutions now offer free access to credit scores, often updated monthly. These scores typically use either the FICO or VantageScore models. Regularly checking both your credit report for accuracy and your credit score for changes allows for proactive financial management.