Average Credit Score for People in Their 70s
Numerous studies confirm that credit scores tend to increase with age, culminating in the highest averages for the oldest generations. While FICO and other scoring models do not use age directly in their calculations, the length of credit history and consistency of payments over time are heavily weighted factors.
Recent data illustrates this trend clearly. According to a study from BadCredit.org, average FICO scores for individuals in their early 70s are well within the 'Very Good' range. Their data from August 2025 showed average FICO scores for specific ages within this decade:
- 70 years old: 747
- 71 years old: 750
- 72 years old: 752
- 73 years old: 754
Another source, MoneyLion, reported in March 2025 that people in their seventies and older generally have the highest average credit scores, reaching an average FICO score of 753. This reinforces the pattern that decades of consistent, responsible credit management lead to strong financial standing. This high score is a testament to the value placed on long-term financial habits by scoring models.
FICO vs. VantageScore: Average Scores by Generation
While FICO is the most widely used scoring model, it's also helpful to look at average VantageScore data. Both models show a similar trend of increasing scores with age. The table below compares the generational averages according to recent data.
| Generation (Age Group) | Average FICO Score (Approximate 2025) | Average VantageScore (Approximate 2025) |
|---|---|---|
| Silent Generation (78+) | 760 | 753 |
| Baby Boomers (60-78) | 746 | 742 |
| Generation X (44-59) | 709 | 700 |
| Millennials (28-43) | 691 | 678 |
| Generation Z (18-27) | 681 | 667 |
Why Credit Scores Typically Increase with Age
Several factors contribute to the statistically higher average credit scores among older adults:
- Longer Credit History: Length of credit history is a significant factor in credit scoring models, accounting for 15% of a FICO score. Older individuals have had more time to establish a long-standing history of managing credit responsibly.
- Credit Mix: Over a lifetime, a person is more likely to have a diverse mix of credit accounts, such as mortgages, auto loans, and credit cards. A healthy mix of different credit types shows lenders you can handle various forms of debt, which accounts for 10% of a FICO score.
- Payment History: With decades of financial activity, older adults have built a strong history of on-time payments, the most heavily weighted factor (35%) in a FICO score.
- Lower New Credit Inquiries: As they reach retirement, older adults often require less new credit, which means fewer hard inquiries that can temporarily lower a score.
Maintaining a Strong Score During Retirement
While retirement often brings a high credit score, maintaining it requires active management. Changes in income and spending habits can have indirect effects on your credit.
- Income Shift and DTI: Shifting from a regular paycheck to a fixed income like Social Security or retirement savings can impact your debt-to-income (DTI) ratio. Lenders often consider DTI, and a higher ratio can affect your borrowing potential, even with a strong score.
- Inactivity and Closed Accounts: Some retirees close older credit card accounts they no longer use to simplify their finances. However, this can inadvertently shorten your average credit history and negatively impact your score.
- Fraud Risk: Seniors are frequently targeted by identity thieves and scams. Being vigilant about monitoring your credit reports and financial accounts is crucial to prevent fraudulent activity from damaging your score.
Practical Tips for Managing Your Credit in Retirement
Taking proactive steps can help you protect your strong credit position.
- Keep Old Accounts Open: Do not close your oldest credit card accounts, even if you don't use them frequently. The length of your credit history is a key positive factor.
- Stay Active: Use your cards occasionally for small purchases that you can pay off immediately. This prevents issuers from closing inactive accounts, which would negatively impact your credit.
- Maintain Low Utilization: Strive to keep your credit utilization ratio (CUR) below 30%, ideally in the low single digits. A low CUR signals responsible credit use.
- Set Up Automatic Payments: Automating your bill payments ensures you never miss a due date, safeguarding the most important component of your credit score.
- Monitor Your Reports: Regularly check your credit reports for any errors or signs of fraudulent activity. You can get free copies from each of the three major bureaus annually. The National Council on Aging provides excellent resources on managing finances and avoiding fraud, which is crucial for financial health in retirement. Read more on their website.
Conclusion
For a 70-year-old, a high average credit score is a normal and achievable outcome of decades of sound financial habits. While retirement introduces new factors, understanding how to manage credit effectively can ensure this strong financial asset is protected. Maintaining a long credit history, low credit utilization, and consistent on-time payments are the foundations of continued financial health in your golden years.
