[Natfinwellness] Credit Scores (Starting Score)

[Brenda J Cude]

The average score is around 690 and 720-740 is considered a good target to build a credit score (http://www.credit.org/credit-scores-good-credit-scores/?gclid=CjwKEAjwtLO7BRDax4-I4_6G71USJAA6FjN1jjQrduGk9gI4YKR8MUam_MkfOhJxpxMQPo1ERt_pdxoCoVzw_wcB).


Average credit scores increase with age (https://www.creditkarma.com/trends/age) , income and state (http://www.valuepenguin.com/average-credit-score)


I also think it's important to distinguish between FICO Scores (used by 90% of lenders) and VantageScores.


bjc


Credit.org What Credit Scores Are Good Credit Scores ...<http://www.credit.org/credit-scores-good-credit-scores/?gclid=CjwKEAjwtLO7BRDax4-I4_6G71USJAA6FjN1jjQrduGk9gI4YKR8MUam_MkfOhJxpxMQPo1ERt_pdxoCoVzw_wcB>
www.credit.org
When talking about what makes up a good credit score range, we referred to our infographic, “What is a good credit score?” The guidelines we use are fairly ...




Average Credit Score in America: 2016 Breakdown<http://www.valuepenguin.com/average-credit-score>
www.valuepenguin.com
We break down what the average credit score is in America for different age groups, income levels, geographies and first time home buyers. We also break down how ...


[https://creditkarmacdn-a.akamaihd.net/ckfiles.com/assets/435414654798/res/img/facebook/oglogo.jpg]<https://www.creditkarma.com/trends/age>

Credit Trends by Age | Credit Karma<https://www.creditkarma.com/trends/age>
www.creditkarma.com
Based on our data, there is a clear relationship between age and average credit scores. Generally speaking, younger consumers have lower credit scores on average.




Brenda J. Cude, Ph.D.
Professor and Undergraduate Coordinator
Department of Financial Planning, Housing and Consumer Economics
102 Consumer Research Center
College of Family and Consumer Sciences
The University of Georgia
706-542-4857
http://www.linkedin.com/in/brendacude/
bcude at uga.edu<https://bluprd0210.outlook.com/owa/redir.aspx?C=vOIcKdF-3E-1tQaJcKgYQF7RyIsVntAImS-Xqj8YC7a38WwtY4lVWDFxHZFCLgm286cvpkiARdE.&URL=mailto%3asworthy%40uga.edu>
Mailing Address: Department of Financial Planning, Housing and Consumer Economics, Dawson Hall, University of Georgia, Athens, GA 30602
<https://bluprd0210.outlook.com/owa/redir.aspx?C=vOIcKdF-3E-1tQaJcKgYQF7RyIsVntAImS-Xqj8YC7a38WwtY4lVWDFxHZFCLgm286cvpkiARdE.&URL=mailto%3asworthy%40uga.edu>


________________________________
From: Natfinwellness <natfinwellness-bounces at lists.osu.edu> on behalf of LIPINOGA, LAUREN <LIPINOGA at mailbox.sc.edu>
Sent: Thursday, June 23, 2016 6:41:19 PM
To: natfinwellness at lists.osu.edu
Subject: [Natfinwellness] Credit Scores (Starting Score)

Greetings All,

I’m working on revamping our Financial Literacy consultations and what is discussed during them. For our Building & Managing Credit consultation, one topic discussed is credit scores, including the range and if you’re just starting to build credit, where you generally start in terms of score? I know the range is obviously 300-850 but have seen conflicting things regarding where folks start in terms of a credit score. Does anyone know where I could find this information/know the answer so that I can pass on the appropriate information?

Thanks!
Lauren Lipinoga

Lauren E. Lipinoga, M.Ed.
Coordinator of Financial Literacy, Student Success Center
Division of Student Affairs and Academic Support
Thomas Cooper Library-Mezzanine
1322 Greene Street
Columbia, South Carolina 29208
Phone: 803.777.9972
Email: lipinoga at mailbox.sc.edu<mailto:lipinoga at mailbox.sc.edu>
[https://www.parkersearch.com/dashboard/uploads/photos/usc_long1351087132.jpg]
http://www.sa.sc.edu/ssc/

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