What Is the Average Credit Score for a 23-Year-Old?

It can take time to build credit and achieve a high credit score, especially for a 23-year-old who may have recently entered the workforce or still be in school. But as of September 2025, Generation Z, which includes people aged 18-28, had an average FICO^® credit score of 678. This is considered a “good” score that gives you access to more financial products and better interest rates than people with a lower score.

Learn more about the average credit score of a 23-year-old, what factors play a role in calculating credit scores, why credit scores matter, and some steps you can take to boost your score.

The Average Credit Score for a 23-Year-Old

As mentioned above, the average FICO credit score for a 23-year-old is 678, according to Experian^®, one of the three credit bureaus. (The other two are TransUnion^® and Equifax^®.)

Since the lowest credit score you can have is 300 and the highest is 850, this number puts you in a favorable place. You also have an opportunity to work on increasing your score.

Recommended: FICO Score vs. Credit Score

What Is a Credit Score?

A credit score is a three-digit number that creditors use to determine how likely you are to repay a loan and make payments on time. There are two main credit scoring companies that generate your credit score: FICO and VantageScore^®. However, 90% of lenders rely on FICO when making borrowing decisions.

Though FICO and VantageScore use different models for credit scoring, they both have a score range of 300-850 to signify creditworthiness. The higher your score, the less of a financial risk you may pose to lenders — and the more likely you are to get approved for a credit card, mortgage, or loan. A more robust credit score, typically 760 or higher, also means you’ll typically qualify for more favorable terms, such as lower interest rates, and possible credit card perks, such as earning cash back on purchases, airline miles, or higher credit limits.

Here’s a look at the average FICO credit score by age group to help you understand VantageScore vs. FICO:

Generation	Average FICO Credit Score
Generation Z (18-28)	678
Millennials (29-44)	689
Generation X (45-60)	709
Baby boomers (61-79)	747
Silent Generation (80+)	760

What’s a Good Credit Score for Your Age?

A “good” FICO credit score falls somewhere between 670 and 739, regardless of your age. If, like many 23-year-olds, you lack a substantial credit history, your starting credit score probably won’t be within that range. The good news is, your score won’t be zero (no one’s credit score is), nor does it mean you’ll start out with 300, the lowest possible credit score.

Once you start showing you can manage your credit responsibly over time, your score should begin to rise. A spending app can help you manage bill paying and set budgets, which can make bill paying easier.

As you work on boosting your score, you’ll want to check it regularly — at least once a year and before applying for new credit — to track your progress and make adjustments as needed. Credit scores update at least once a month, so it could take a little time before you start to see any changes.

How Are Credit Scores Used?

Credit scores are but one factor lenders consider when evaluating whether to approve you for any type of credit or loan. If your credit score is considered “good” or better, you may be more likely to get approved because in creditors’ eyes, you’ve shown you’re able to manage debt responsibly.

Credit scores aren’t just important for people looking to borrow money or apply for a new line of credit. If you’re renting an apartment, for instance, the landlord may run a potential tenant credit check to determine if you’re a safe bet. And along with a background check, some employers may want to pull a prospective candidate’s credit score. Employer credit checks are more common in companies or businesses where the employee will be handling money and/or have access to customers’ financial information.

What Factors Affect My Credit Score?

There are five common criteria used to calculate credit scores. Here’s how much each one counts toward your FICO Score and why they can affect your credit score:

•   Payment history (35%): Your track record of bill paying can have a significant impact on your FICO Score. The more consistent and timely your payments, the better.

•   Credit utilization (30%): Credit utilization refers to the amount of available credit you’re using, and it’s a key factor in determining your credit score. A lower credit utilization rate is better for your credit score.

•   Length of credit history (15%): Generally, the longer an account is open and in good standing, the better it is for your credit score.

•   Credit mix (10%): Though not required, having a diverse array of credit, such as credit cards, installment loans, and even a home equity line of credit (HELOC), can show lenders you can handle different types of debt.

•   New credit (10%): When you apply for a loan or credit card, the lender will make a hard credit inquiry, which can cause a small, temporary dip in your credit score. If you apply for multiple loans or credit cards in a short period of time, your score can drop a bit. Lenders may also see it as a red flag that you’re taking on too many financial obligations.

How Does My Age Affect My Credit Score?

Your age doesn’t directly impact your credit score — your credit history does. But as noted earlier, credit scores do tend to increase with age and income levels. This means as a 23-year-old, you have the opportunity to establish positive fiscal habits early on, such as setting budgets, using a money tracker app to monitor spending, and living within or below your means.

At What Age Does a Credit Score Improve the Most?

According to Experian FICO Score data, baby boomers and the Silent Generation tend to have the highest credit scores of all age groups. But the biggest jump in scores — 38 points in 2025 — generally occurs between Generation X and baby boomers.

How to Build Credit

Wondering how to build credit? A good place to start is to acquire credit accounts so you can start establishing your credit history. Remember, lenders want to see a track record of responsible debt management, so it’s a good idea to create sound financial habits now. Pay your bills on time consistently. Resist the temptation to use up all of your available credit. And keep tabs on your finances so you don’t spend more than you’re bringing in.

And keep in mind, this is a long game. How long does it take to build credit? It depends, but generally speaking, it may take at least six months to build enough credit and get your first credit score.

Credit Score Tips

Whether you’re just starting on your credit journey or are preparing your finances for a major purchase, increasing your credit score is always a worthy goal. Here are some tips to help you do just that:

•   Pay your bills on time, every time. It bears repeating: A track record of on-time payments shows lenders that you’re serious about being fiscally responsible. It also can go a long way toward building your credit score.

•   Keep older accounts open. Closing any credit card accounts ends your payment history with that lender. Eventually, this account will drop off of your credit report and potentially impact your credit length and credit utilization rate. If you have an older credit card account in good standing, consider keeping it open — and even using it occasionally for smaller charges.

•   Get credit for other bills you pay. A 23-year-old can work toward increasing their credit score by looking into including rent payments, streaming services, and even some utility bills. Check out Experian Boost, which allows you to include these types of on-time payments in other accounts to your Experian credit report.

•   Check your credit report. You can check your credit reports without paying weekly via AnnualCreditReport.com. Ensure all the information is correct, and fix any errors you see.

Note that your credit report won’t show you your credit score. Instead, you may be able to get that important three-digit number from a number of sources, including your bank, credit card company, or Experian. As with checking your credit report, monitoring your credit scores helps you identify discrepancies or fraudulent activities.

Recommended: Why Did My Credit Score Drop After a Dispute?

The Takeaway

The average FICO credit score for a 23-year-old is 678, which is considered a “good” credit score. Having a score in this range can help make getting loans, credit cards, apartment rentals, and maybe even certain jobs a little easier. If you’re able to boost your credit score into a “very good” or even “exceptional” range, you may be able to qualify for loans with better terms or credit cards with attractive perks.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

See exactly how your money comes and goes at a glance.

FAQ

What’s a good credit score for a 23-year-old?

No matter what your age is, a credit score that falls between 670 and 739 is considered good. The average FICO credit score for a 23-year-old is 678, which falls in the “good” range.

Is a 760 credit score at 23 good?

Yes, a 760 FICO credit score puts you in the “very good” range. It shows lenders that you’re creditworthy and able to capably manage credit.

What is a good credit limit for a 23-year-old?

Credit limits differ from person to person. The average limit for Generation Z consumers is around $14,000.

Is 720 a good credit score for a 23-year-old?

Yes, it is. A 720 credit score is classified as a “good” score, according to FICO, and a “prime” score per VantageScore.

How rare is an 800 credit score?

It’s not that common to have a credit score of 800 or higher, which is categorized as “exceptional.” Case in point: Only about 22.8% of Americans had a FICO Score in the 800-850 range in 2025.

How rare is an 825 credit score?

Less than a quarter of Americans boast a FICO credit score of 800 or higher. Having an 825 credit score is rare because it reflects, among other things, a near-perfect history of on-time payments. Late payments, defined as 30 days past due, appear on only around 0.7% of credit reports for people with a FICO credit score of 825, according to Experian.

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Photo credit: iStock/BongkarnThanyakij

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