What Is The Average FICO Credit Score (Fair Isaac)?

The average FICO score - currently about 716 on the 300‑850 scale according to the 2024 FICO annual report - tells you where you sit relative to the typical U.S. consumer. It signals whether lenders will view you as a low‑risk borrower, influences the interest rates you're offered, and helps you gauge progress toward good (670‑739) or excellent (740‑850) credit tiers.

Because lenders compare your FICO score to this national benchmark, a score above the average usually unlocks cheaper loans and more credit‑card rewards, while a score below may require higher rates or a co‑signer. Keep this reference point in mind as we move to the next section, which breaks down FICO ranges from poor to excellent and shows how age, income, and region shift the average.

The most recent FICO data places the national average FICO score at 716 for 2024, generally falling in the 'good' range of 700‑749 on the 300‑850 scale 2024 FICO average score report.

• Poor: 300‑579 - typically signals very high risk; lenders often deny credit or charge steep fees.
• Fair: 580‑669 - generally meets minimum thresholds for basic cards; the average FICO score sits near the low end of this band.
• Good: 670‑739 - usually qualifies for mainstream loans and credit cards; most lenders view this range as acceptable.
• Very Good: 740‑799 - often unlocks better rates and premium rewards; aligns with the national average FICO score reported in the 2024 FICO scoring guide.
• Excellent: 800‑850 - indicates top‑tier creditworthiness; borrowers receive the most favorable terms.

The average FICO score climbs with age and differs across generations, according to the latest 2024 FICO and bureau reports. Younger adults typically sit in the low‑mid‑600s, while those approaching retirement often break the 720 mark.

• 18‑24 years: average FICO score ≈ 642
• 25‑34 years: average ≈ 680
• 35‑44 years: average ≈ 704
• 45‑54 years: average ≈ 718
• 55‑64 years: average ≈ 730
• 65 + years: average ≈ 732

Generational averages (based on typical age ranges in 2024):

• Baby Boomers (born 1946‑1964): ≈ 730
• Gen X (1965‑1980): ≈ 718
• Millennials (1981‑1996): ≈ 688
• Gen Z (1997‑2012): ≈ 660

These figures illustrate how credit history length and lifecycle financial habits drive the score upward over time. For full methodology see the 2024 FICO credit score report and the TransUnion age breakdown 2024.

• Across income brackets, the 2024 data from 2024 FICO national average report show the average FICO score typically ranges from ≈ 680 for households earning under $30 K to ≈ 740 for those earning over $150 K.
• Households earning <$30 K  -  average FICO score usually sits around 680 (mid‑600s).
• Earners of $30 K - $74 K  -  average FICO score generally falls near 700.
• Income group $75 K - $149 K  -  average FICO score typically climbs to 720.
• Households with >$150 K  -  average FICO score often reaches ≈ 740, edging toward the good‑to‑excellent range.

The 2024 FICO score report breaks down the average FICO score by state and region, showing a spread from the high‑730s in the best‑performing states to the high‑680s in the lowest‑scoring areas.

Regionally, the averages typically sit at:

• Northeast ≈ 720
• Midwest ≈ 718
• South ≈ 710
• West ≈ 715

State‑level highlights include:

• Minnesota ≈ 734, Iowa ≈ 731 (top tier)
• West Virginia ≈ 690, Mississippi ≈ 688 (bottom tier)

These figures sit just above the national average of about 714 discussed earlier, and they set the context for the behavioral tips in the next section. 2024 FICO credit score trends report

Payment history and credit‑utilization changes typically swing a FICO score the most, while new accounts, hard inquiries, and credit‑mix tweaks have smaller, slower effects.

• Pay every bill on time - late payments can drop the score 50‑100 points; on‑time payments steadily lift it.
• Reduce revolving balances - cutting utilization below 30 % (ideally under 10 %) often adds 20‑40 points.
• Avoid opening many new lines - each hard inquiry may shave 5‑10 points; dozens can erode the score quickly.
• Keep old accounts open - length of credit history accounts for ~15 % of the model; closing long‑standing cards can shave points.
• Maintain a healthy credit mix - adding a installment loan can help modestly, but the impact is usually <5 % of the score.

These actions explain why the average FICO score discussed earlier (around 714 in 2024 FICO 2024 report) can rise or fall rapidly, and they set the stage for the next section on how score shifts affect loan and credit rates.

A higher average FICO score usually translates into lower interest rates on mortgages, auto loans, credit cards and personal loans. Lenders treat each point as a signal of risk, so a modest rise can shave pennies off the APR you pay.

• Mortgage loans: 20‑point increase (e.g., 680 → 700) typically trims the annual rate by about 0.10 % to 0.15 % (≈ $30‑$45 per $100 k loan).
• Auto financing: Same 20‑point jump usually lowers the APR by 0.15 % to 0.25 % (≈ $15‑$25 per $10 k loan).
• Credit‑card balances: Each 20 points generally cuts the APR by 0.20 % to 0.30 % (≈ $8‑$12 per $1 k balance).
• Personal loans: A 20‑point rise often reduces rates by 0.25 % to 0.35 % (≈ $20‑$30 per $10 k loan).
• Loan approvals: Crossing key thresholds (620, 680, 720) typically moves borrowers from 'sub‑prime' to 'prime,' increasing approval odds by 5‑15 %.

Because lenders price risk in narrow bands, moving from a 719 to a 720 score can drop a mortgage rate by an extra 0.05 % even though the score change feels small. Consequently, improving your average FICO score - even by a few points - can meaningfully reduce the cost of credit across the board, setting the stage for the quick‑move strategies in the next section. For the latest data, see the 2024 FICO Credit Score Trends Report.

Boost your FICO score above the 2024 national average (about 714) with these five fast actions.

1. Cut revolving utilization below 30 % - Pay down credit‑card balances so total revolving debt is under 30 % of each limit; lower utilization can add 20‑40 points within a month.
2. Never miss a payment - Set up automatic transfers or calendar alerts to keep every installment and revolving payment on time; a clean payment history is the single biggest factor in the FICO model.
3. Keep old accounts open - The age of your credit history counts toward about 15 % of the score; closing long‑standing cards shrinks the average age and can drop points.
4. Add a different credit type - If you only have revolving credit, consider a small installment loan (auto loan, credit‑builder loan, or a secured personal loan). A mixed credit mix improves the 'credit types' pillar.
5. Limit hard inquiries and dispute errors - Each hard pull can shave 5‑10 points; request only necessary credit, and regularly review your reports to contest inaccurate items.

These moves align with the factors outlined in the 2024 FICO score trends report and set you on a clear path to an above‑average score.

Average FICO scores translate into fairly predictable lender outcomes, as shown by recent data.

• A borrower with an average FICO score of ≈ 680 typically receives a 60‑month auto loan at an APR near 6 percent, according to the CFPB 2024 auto‑loan rate survey.
• A homeowner with an average FICO score of ≈ 710 generally qualifies for a 30‑year mortgage at an interest rate around 5.5 percent, based on the CFPB 2024 mortgage‑rate report.
• A small‑business owner with an average FICO score of ≈ 730 often secures an SBA 7(a) loan; the 2024 SBA loan statistics show an average approval amount of $150,000 with interest rates near 6 percent.
• A student with an average FICO score of ≈ 640 can obtain federal student aid at fixed rates, while private lenders usually offer rates 1 - 2 percentage points lower for borrowers scoring ≈ 700, per the 2024 Federal Student Aid data.
• A renter with an average FICO score of ≈ 720 typically gets lease approval with reduced security deposits, as highlighted in the 2024 National Apartment Association survey.

Unusual data points such as ultra‑high scores, thin‑file consumers, and recent mass debt events typically shift the national average FICO score away from the median range.

Wealthy retirees or corporate executives who maintain scores above 800 can raise the average by a few points, while millions of people with newly opened credit histories often score between 600 and 650, pulling the average down.

Large‑scale bankruptcies, student‑loan defaults, or pandemic‑related forbearance periods also create temporary dips because they add a surge of low‑to‑mid‑range scores to the pool.

These outliers explain why the reported average FICO score (300‑850) may not reflect the experience of a typical consumer; the figure is a weighted mean that smooths extreme values. For the latest national numbers, see the 2024 FICO average report.

Different bureaus can give you different FICO scores because each one pulls its own copy of your credit file, applies a slightly different reporting date, and may use a distinct scoring version such as FICO 9 or FICO 10. The average FICO score nationwide (around 714 in 2024) is a useful benchmark, but your personal scores can vary by 20 - 40 points between Experian, TransUnion, and Equifax due to these factors.

To resolve the mismatch, pull the free annual reports, compare the listed accounts, and dispute any errors that appear on one bureau but not the others. Knowing which version a lender uses helps you focus on the relevant score; for most mortgages, lenders rely on the middle‑score average of the three reports. For a deeper look at the models, see the FICO score models overview.