10 Credit Score Statistics & How To Increase Yours

This post may contain affiliate links, meaning I receive a commission for purchases made through these links, at no cost to you.

Disclaimer: The following is a sponsored post by CreditRepair.com.

One of the best ways to see where you fall into the credit score spectrum is by digging into statistics. Statistics can be a lot of fun to read because it’s interesting to see how much a credit score impacts our daily lives.

For instance, a bad credit score can keep you from doing a lot of things you might’ve not even thought of. 

A bad credit score can keep you from:

  • Getting approved for a mortgage
  • Securing good rates on a car loan
  • Getting a low-interest credit card
  • Borrowing money from a lender
  • Renting an apartment or home 

Fortunately, improving your credit score is more than possible by taking action. Here are 10 *surprising* credit score statistics and how to increase yours. Knowing these stats can help you see where you are and where you can improve. 

Before we get started, make sure to sign up for my free resource library and get access to exclusive printables all about saving money and building wealth, meal planning, and more.

1. Adults ages 22-35 have an average VantageScore credit score of 634.

2. 36% of adults think there’s no reason to check their credit score. About 8% don’t know how to, and another 8% think it’s too expensive. 

3. In 2015, more than 50 million adults had no credit score. 

4. About 54% of Americans never check their credit scores.

5. 35-51 adults have an average VantageScore of 655.

6. 12% of the U.S. population has a FICO score below 550.

7. Roughly 1% of the U.S. population has a perfect FICO score of 850.

8. 47% of employers check an applicant’s credit score and history during the interview process. 

9. Hard inquiries into your credit report, like those done by creditors, can remain on your report for up to two years.

10. Closed credit card accounts can continue to appear on your credit report, affecting your scores for up to ten years.

Statistics sourced from CreditDonkey, The NFCC study, Consumer Finance, Financial Maintenance, Demos, Investopedia, and Points Guy. 

Take action and improve your credit score to save money

Now that you know all of these interesting statistics, you may be thinking about what your credit score is and how you can improve. Finding out your credit score is the first step to improving your financial future.

Luckily, CreditRepair.com is all about empowering people to take control of their finances.

You can get a free personalized credit consultation, credit report summary, and score evaluation & game plan here.

This is how CreditRepair.com works on increasing your credit score:

  • Challenge: CreditRepair.com challenges your questionable negative items with all three bureaus, ensuring your credit reports are accurate and fair
  • Dispute: CreditRepair.com asks your creditors to verify the negative items they’re reporting. If they can’t, they are required by law to stop reporting them
  • Monitor: CreditRepair.com continues to watch your credit, addressing additional issues as they arise so that you can stay on track and reach your goals

CreditRepair.com even has a fun interactive graph to see how much you can save with a great credit score.

It’s a lot of fun to see the different interest rates and monthly payments you’ll receive with low and high credit scores. 

Your credit score is more important think you think. This simple 3 digit number impacts the most important purchases you make in your lifetime.

Have a poor credit score? You may expect to pay more in mortgage or car interest rates, insurance costs, and even little things like paying for a utility deposit.

Are you in the good to excellent credit score range? That means you’re potentially saving thousands of dollars over the course of your lifetime in interest rates, insurance premiums, and more. 

If you’re ready to take charge of your financial future but not sure where to start, go to CreditRepair.com and get started with a free credit analysis. They can help you understand how to read and analyze your credit reports and how to continually improve your credit score. 

Now is the time to take action on your credit score. Change your financial future by taking action today.

Get a free personalized credit consultation, credit report summary, and score evaluation & game plan here.

What are you doing to increase your credit score?

Like this post? Share it!

Free Printable Resource Library

Join 10,000 others to get access to 20+ free printables related to achieving financial freedom, starting a side hustle, and other fun goodies!

We will never send you spam. Unsubscribe at any time. Powered by ConvertKit