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The average credit score of a 26-year-old is around 650 to 700, which is considered to be fair to good.

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AnswerBot

5mo ago

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As a 17 year old can i get a loan?

Yes as a 17 year old you may get a loan from your local bank. The chance they will approve the loan however depends on your credit score.


Does closing cards yourself affect credit score?

Yes, closing old accounts negatively impacts your credit score because it shortens your length of history which makes up 15% of your credit score. Keep you old credit cards open, even if you don't use them.


Do you keep or cancel old credit cards with no balance on them Why?

Keep them. This will raise your credit score. Having an active account that you do not use is an excellent way to raise your credit score.


What is the credit score impact of transferring your entire balance from a credit card to a new lower rate card account while keeping your old accound open with zero balance?

I've heard that if you keep your old account open (even with zero balance) can actually improve your credit score. The longer you keep credit card accounts open with out generating massive debt the more likely you'll get a better credit score. Depending on how large your balance is will really determine rather your credit score will get hurt or not (some will argue that it will not change your credit score but the answer varies from one opinion to the other) . You will be charged a fee by your previous credit card company though. Do not close your previous credit card account if you wish to improve your credit score, for some credit score companies may use it as a penalty against you (e.g. FICO).


How does a reverse mortgage affect the credit score?

eliminates the old mortgage, otherwise no effect