Home > Credit 101 > Does My Age Help My Credit Score?

Comments 0 Comments

Does credit scoring favor older, more mature people?


Credit scores do not consider a consumer’s age. Instead, it’s the age of your credit file, not your age as a person, that directly impacts your credit score. The length of your credit history accounts for about 15% of your credit score.

When calculating your scores, credit-scoring models typically consider the age of your oldest account, the age of your newest account, as well as the average age of all your credit accounts.

They also look at how long specific credit accounts have been established and how long it’s been since you’ve used certain credit accounts.

What Influences Your Credit Score the Most

While it’s great to have a nice, long credit history, the age of your credit is not the biggest influence on your credit score. What does? Your payment history. That accounts for about 35% of your credit score. In other words, it’s how you manage the credit that you do have that affects your score the most.

Making on-time payments on a credit card account, a retail account, an installment loan, a finance company account, or a mortgage loan will all lift your credit score. So whatever your age, you can give your credit score a boost by making on-time payments each and every month.

Paying down debt will help your credit score as well, since the second-most important factor influencing your credit score is the amount of your debt. That makes up about 30% of your credit score. A credit score scrutinizes how much you owe on credit accounts in a number of ways.

Most scoring models typically consider the amount owed on all your credit accounts, amount owed on different types of credit accounts, how many accounts have balances and how much of an account’s total credit line is being used, and the amount of an installment loan and how much is still owed.

Checking Your Credit

Wondering if your credit is in decent shape? It’s a good idea to get in the regular habit of reviewing your credit reports and credit scores.  You can get your credit reports for free once a year through AnnualCreditReport.com. And you can get two free credit scores each month plus tips and expert advice on improving your credit from Credit.com. If you see a large, unexpected drop in your credit scores, that’s a good time to check your credit reports for any problems, inaccuracies or signs of fraud.

More on Credit Reports and Credit Scores:

Image: Alberto Bogo

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team