Which Generation Has the Best Average Credit Score?

Which Generation Has the Best Average Credit Score?

October 11, 2018         Written By Lynn Oldshue

A new LendingTree study reveals that older generations have significantly higher credit scores than younger ones. In fact, the silent generation (adults older than Baby Boomers) have an average credit score that is 100 points higher than Millennials.

The average credit score by generation is:

  • Millennial: 634
  • Generation X: 653
  • Baby Boomer: 696
  • Silent Generation: 734

Time is one of the biggest factors in this variance. Millennials, fresh into adulthood, have not had as much time to build their credit as other generations. Younger adults are also more likely to have significant debt, such as student loans, new mortgages and car loans. Older generations without this debt have an easier time building and maintaining high credit scores.

Earlier this year, Discover found that 61% of American adults are actively working on their credit scores. Young adults, age 18 to 21, were the most focused on their credit. 87% are trying to improve their scores, followed by Millennials (83%), Gen Xers (66%) and Baby Boomers (34%).

What can younger generation consumers do to catch up with their senior counterparts? Pay off outstanding debts as quickly as possible, keep their debt utilization below 30%, avoid high-interest loans (such as payday loans) and wait for time to work in their favor.

The information contained within this article was accurate as of October 11, 2018. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
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