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credit score is not based on age but how you handle your credit....handling your credit well and your score goes up.....handle your credit bad, as in having a lot of debt and not paying on time brings your score down.

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โˆ™ 2012-08-28 20:14:16
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Q: Does your credit score drop at a certain age?
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Does your age affect your credit score?

No, but your credit history accounts for about 15% of your credit score.

What is the average credit score by age group?

The average credit score is charted showing the relationship between age and the average credit scores. Younger people have lower credit scores than older people.

How will your credit score be affected when the bankruptcy drops off?

That depends on, what's on your credit bureau file. The score will look at the age of your credit cards, balances and payment history

Can your credit score go down if you have obtained credit prior to age 18?


Do you half to be a certain age to have a credit catd?

For one to have a credit card, one must be of a legal age.

Can anybody apply for a credit card?

you have to be a certain age

Do you have to be a certain age to buy items on Craig's List?

you have to have a credit card

Do have to go to high school?

yes, depending on your state law you can drop out at a certain age. example: Illinois is 17 to drop out

What Is Your FICO Credit Score?

Credit scores are extremely important. This number is what people will look it before determining if you will get a house, buy a car, and land a job. Many people know the basics of FICO credit scores, but not everyone knows how the number is computed. Before you apply for new credit, it is a good idea to pull your credit report. By knowing how your credit score is computed, you can learn what steps to take to improve it. Here is how the FICO credit score is computed. Payment History - 35% This is the biggest component of your credit score. This looks at how you have made payments on your credit accounts over time. Late payments hurt your score. The more severe a delinquency, the worse your score will be. Once you bring your accounts current, your FICO credit score will start to improve. As negative items age, they lose their edge. If you have charged off accounts or collections accounts, they will count in this area as well. Amounts Owed - 30% There are two big considerations for this component. One is the amount you owe on installment loans in relation to how much you originally borrowed. The second part is the utilization of your credit cards. This means the balances you carry in relation to your credit limits. High credit utilization will lead to lower scores. You want to keep your credit card balances as close to zero as possible. Age of Credit History - 15% This scoring component looks at how old your accounts are as well as recent you have had activity on them. FICO credit scores usually look at the average age of your credit accounts. This is why it is never a good idea to close an account that is in good standing. The older the average age of accounts, the better your FICO credit score will be. Types of Credit - 10% In order to optimize your FICO credit score, you should have a variety of accounts. If you have all loans and no credit cards, your FICO score will be lower. You should have a good mix of installment accounts, revolving accounts, and retail accounts. New Credit - 10% The last part of your FICO credit score looks at how many new credit accounts you have opened. The presence of a lot of new accounts will hurt your credit score. This is why you want spread new accounts out. Also, your credit inquiries will count here. Any credit inquiry you initiate will affect your credit score for up to two years.

What is the credit score of a person who has never had credit before?

You pretty much don't have a score. It's not impossible to get loans, but when you apply substantial down payments and/or high APRs may be a part of the loan. When you first start out on credit you still don't get a score, but I believe an initial score is established after 90 days. I believe they start you in the 600s because when I applied for a car loan my score was 615 after only 6 months of credit. This is why it's important to have credit cards at a young age so credit can be built. APR doesn't matter for the card, just carry a low balance and pay in full every month and those two things over a period of time (usually 3 years to get your "average" credit score) will give you a nice credit score. AND PAY ON TIME !

Is it required for children to go to school in the US?

Yes, but they may drop out at a certain age in some states. In California, a student can legally drop out at 16.

Does an open unused line of credit hurt or help your credit score?

Open positive accounts with 0 balance is always good especially when they age, just leave it open.

Free credit report with out credit cards?

Credit reports determine your credit score based on your credit card usage. Without a credit card, you'll be unable to obtain a credit report. If you are of age, it is best to obtain a credit card and use it responsibly in order to build good credit. Good luck!

Legal age to drop out of school without parental consent?

I am not sure but in some states i believe it is age sixteen unless of certain curcumstances.

What is Alaska drop out age?

You can drop out of school at the age of 16 in Alaska. However, the state is considering raising the drop out age to 18.

What is your IQ supposed to be when you are 16?

IQ is non-age dependent. IQ tests can be made for people in different age ranges, but there is no average score for a certain age range. The average IQ for any age is 100.

What is a credit report and what is a credit score?

A credit report is a list of your credit accounts with different creditors stating your payment history with them. A credit score is made up of different items on your credit report using an algorithm including payment history, credit length, debt to limit ratio, credit types, and inquiries.A FICO credit report has 5 components that are used to determine your credit score:Payment historyPercentage of available credit in useLength of time (how long each account has gone since the last action, and the age of each account has been open)Amount of new creditVariety of debt

How many credit points a month do you get using a secure credit card and paying on time?

You don't get monthly points, it doesn't work like that, the only way to increase your score is to have good positive open trade lines with no lates and as they get history and age on them your score will increase as time goes on.

What Is a 3-In-1 Credit Score?

Having good credit is essential for financial viability. As a young person you likely never take into consideration your credit score. You run up exorbitant credit card bills, default on payments, over spend your limits and do so with little regard for the repercussions. But as you age you begin to realize the importance of managing your credit, paying your bills on time and keeping your score high so that you can get better rates on loans for school or major purchases (like a home or car). Having good credit is a balance: you can’t simply avoid credit cards and develop a credit score. There are dozens of ways to build up your credit score: opening a credit card and paying it off responsibly, paying your bills on time, paying your student loans back on time, etc. But how do you know what your credit score is? What does all the language mean? What is this 3-in-1 credit score you have seen advertised? This article seeks to answers those questions. If you are unaware, your credit score or “credit history” is your past of borrowing and repaying. The report documents all late payments and bankruptcy. This information is used by lenders (credit card companies, loaners etc.) to determine an individual’s credit worthiness or their ability to repay a debt. This is indicated by how timely you’ve been in repaying these past debts. The term “3-in-1 credit score” comes from the three major credit bureaus in the U.S: Dun & Bradstreet, Experian Business, and Equifax Small Business Financial Exchange. A 3-in-1 credit score is a singular report with scores from all three of the major credit bureaus. This greatly helps for giving you an overarching picture of your credit. Obtaining your credit score can be done in many ways. More and more websites are beginning to emerge that offer free credit reports (usually for a one month promotional deal). You’ve likely heard the catchy jingles from You’ve probably stumbled across plenty of ads for places offering to give you a free credit report. Many of these businesses can be trusted. Just be sure to do plenty of research before entrusting them with your information. If you don’t feel comfortable with those companies, oftentimes your bank will provide a credit score service. Banks typically won’t offer your report for free (unless they are featuring some promotion), but they are a reliable place to obtain your credit score from. Maintaining good credit is important and should be closely monitored at any age. Irresponsible spending and late payments now can make your dreams of future purchases impossible. Getting a credit report will help you monitor your score as your borrow and repay.

Legal age to drop out of high school in Missouri without parental consent?

The MO Legislature recently (Aug 28, 2009 ) raised the age to 17 or the completion of 16 credit hours. But stay in school. If you drop out... life will be harder than it is now.

What age can you drop out of school in Louisiana?

what age can you drop out of high school in louisiana

Is there a certain age to buy something online?

There is a certain age to buy some things online. Many websites do not want a person to make purchases if he or she is under the age of 18. That being said, there is no way to verify a person's age when they purchase something with a credit card, especially if the card belongs to a parent.

Can a credit card prove your age?

No. A credit card does not prove age or identity.

Which information is needed in calculating credit score?

A credit score is a complex evaluation of your credit bureau file. examples of what the score reviews is: Balances/line of credit ratios Number of different inquiries from merchants Past and current payment history Age of accounts Number of new creditors Any written off accounts Any derogatory information ie) bankruptcy, repossessions, unpaid collections, etc.

How do you raise my credit score to 625?

It can be a long process, especially if your score is really low. basically, there are five things that make up your credit score; 35%: Payment History - This is how well you pay your debts on time. Pay bills on time and dispute inaccurate items from your credit report will help increase this area. 30%: Debt Ratio - This is how much debt you have on your credit accounts (Maxed out credit lines do the most damage) 15%: Credit History - This is the average age of your credit accounts (the older the better). 10%: Debt Diversity - Different Types of Accounts (it's good to have a variety of Mortgage, home loan, fix loans, and revolving loans). 10%: Hard Inquiries - People checking your credit Working on all of these areas will improve your credit score.