Comments on: What is the Average Credit Score?

By: Robert McFarlane

Robert McFarlane — Mon, 02 Nov 2009 02:48:38 +0000

Checking your own credit score doesn’t affect your credit score.

By: Kevin at OutOfYourRut

Kevin at OutOfYourRut — Sun, 05 Jul 2009 15:13:00 +0000

Michelle, based on my years of experience with credit reports, if your bankruptcy was discharged five years ago, you’ve re-established credit, and made your payments on time, you’re scores are probably well above 600, or even above 650. The key is the length of time without late pays, or other derogatory information.

Good luck with it, but it’s probably better than you think.

By: Jim

Jim — Sun, 05 Jul 2009 14:41:57 +0000

Michelle, you can always try one of these credit score estimates: http://www.bargaineering.com/articles/free-fico-credit-score-estimates.html

By: Michelle

Michelle — Sun, 05 Jul 2009 03:13:11 +0000

I have nooo idea what my credit score is , and I’m afraid to give my credit card number to the free credit report websites , because they might be a scam . I’m guessing mine and my husband’s score is low ,and I’m afraid were one of the 2% under 500. We filled bankrupt about 5 years ago . We have 3 credit cards all with a limit of under 2000. We pay the credit cards on time though .

Can someone give rough idea of where my credit score is ??

By: eric

eric — Fri, 03 Jul 2009 17:09:00 +0000

well at least you know you have credit-worthy readers

By: AGH

AGH — Thu, 02 Jul 2009 22:02:53 +0000

Below 500? Maxed out credit cards PLUS unpaid judgments/collections/liens…fairly recently e.g. last 12-24 months PLUS NO positive credit…basically that point right before bankruptcy…believe it or not have a friend who filed Ch13 and had a credit score of 600+ right after BK…

By: Kevin at OutOfYourRut

Kevin at OutOfYourRut — Wed, 01 Jul 2009 23:03:57 +0000

That would be my thought as well Anthony, and is also consistent with what I’ve seen. 650-685 seems closer to reality.

No idea how the estimates are compiled, from actual data bases or from surveys. Surveys would certainly inflate the numbers, because people with lower scores tend to be less likely to keep on top of it in the way those with clean credit would, if only because it isn’t flattering.

By: Anthony

Anthony — Wed, 01 Jul 2009 22:58:31 +0000

I agree… of all the statistics from various sources I’ve seen, never more than 2% sat below 500.

So, while the midpoint between 300 and 850 is 575, the midpoint between 500 and 800 is 650. This 650 seems more on par with national averages.

By: anita

anita — Wed, 01 Jul 2009 20:51:23 +0000

My Credit Karma score is 771.

Here are my actual scores from June 2009:
Equifax: 662
Experian: 773
Transunion: 760

I haven’t been keeping tabs on my credit karma scores, but it seems to be really close to my experian score.

By: Robert

Robert — Wed, 01 Jul 2009 16:06:29 +0000

With all the banks and credit card agencies getting their licks in before the laws change in January of 2010, I am worried about my credit score. In fact, I’m so worried, that I won’t even go to any of the big 3 agency sites, because I’m afraid that will lower my score.

I’ve gotten some odd posts from ID Guard, of which I am a member, and they’re about my bank and a mortgage company looking into my credit file…I’ve never filed for a mortgage.

With the credit crunch on, I doubt I’ll survive until 2010.

By: Kevin at OutOfYourRut

Kevin at OutOfYourRut — Wed, 01 Jul 2009 15:42:38 +0000

Anthony & Carla–In the many years I worked in credit, about 98% of scores fell between 500 and 800. Of those below 500, they’d be just a few points below. Never saw anything as low as 450 so I have no idea how one gets down into the 300s, and I saw some pretty bad credit including people coming right out of bankruptcy and foreclosure.

800+ is rare as well, and usually takes in those who have paid their debts down from modest levels to near zero. Not surprisingly, it was mostly people over 65.

Important to remember too, that you don’t have one credit score, you have three, because there are three credit repositories. As far as lenders, it all depends on which repository they use. Mortgage lenders pull all three scores then take the middle of the three. There can be a surprisingly large variation between the three, and people are often taken by surprise at the results.

Finally, don’t get too attached to your credit score, it isn’t set in stone. It changes at least once a month based on reporting by creditors.

By: Patrick

Patrick — Wed, 01 Jul 2009 14:44:42 +0000

It’s great to see that you readers are averaging much high credit scores than the national average. I agree with you Jim that the average received from that site is interesting to know.

By: cpwilson5

cpwilson5 — Wed, 01 Jul 2009 14:40:37 +0000

Quick thought/question: Does Credit Karma have any information on whether there score on average tends to be lower or higher than the FICO score? Or does anyone track both and is willing to tell us if they see a trend? This would be an interesting poll/survey for those who do both. What’s your CK score and what’s your FICO score just to see if most are under or over or about the same. Very interesting info! I’d like to keep that adult GPA as high as possible

By: Jim

Jim — Wed, 01 Jul 2009 14:36:22 +0000

I agree with you all, it’s definitely a self-selecting group that is more conscious of their credit score. I still find it interesting.

By: Ted

Ted — Wed, 01 Jul 2009 14:33:09 +0000

As Fermat and Kosmo said, biased sample. In this case I could guess the bias is that the people who report on Credit Karma are more conscious of their credit score and so are more likely to have higher scores than the general population.