208-664-8980

1875 N. Lakewood Dr.
Suite 102
Coeur d'Alene, ID 83814

How Does Your Credit Score Compare?

Fast Fact: Get Over It. A bad credit score doesn’t last forever. Since your credit score is a "snapshot" of your risk at a particular point in time, it changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit.

Your credit score is simply a statistical estimation of how likely you are to pay your debts and, by extension, how much credit you should have. Everyone is different—everyone has a different history, different experiences. But have you ever wondered how you compare to other Americans?

The illustration below shows cities with the best and worst credit score.

US map with chart

Source: Experian.org, 2016

Generation Gap

Here's a look at how each generation fares credit-wise. How do you stack up?

  
 Credit Score
Baby Boomers675
Generation X633
Millennials624

Source: ConsolidatedCredit.org, 2016, using Experian scoring

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2019 FMG Suite.

Share |
 

Related Content

The Cost of Procrastination

The Cost of Procrastination

Procrastination can be costly. When you get a late start, it may be difficult to make up for lost time.

Your Emergency Fund: How Much Is Enough?

Your Emergency Fund: How Much Is Enough?

Having an emergency fund may help alleviate the stress and worry associated with a financial crisis.

Your Cash Flow Statement

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

 

Have A Question About This Topic?







Thank you! Oops!

Spotting Credit Trouble

The wise use of credit is a critical skill. These 10 questions will help you assess your skill level.

Weighing the Benefits of Prepaid Debit Cards

It's important to understand the pros and cons when considering a prepaid debit card.

The Economic Journey of Your Morning Coffee

Few contemplate the complex journey that brought their coffee from farm to kitchen table.

View all articles

Doubling Your Money

This calculator demonstrates the power of compound interest.

Paying Off a Credit Card

Enter various payment options and determine how long it may take to pay off a credit card.

Historical Inflation

This calculator shows how inflation over the years has impacted purchasing power.

View all calculators

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

View all presentations

What Our Kids Can Teach us About Saving Money

Would you guess that Millennials are effectively saving for retirement? Well, they are.

Saving for College 101

Here’s a crash course on saving for college.

Surprise! You’ve Got Money!

Here’s a quick guide to checking to see if you have unclaimed money.

View all videos