COSTA MESA, Calif.—The average credit score was a record-breaking 703 in 2019.
That’s thanks in part to Millennials who have achieved a 25-point increase since 2012.
The 2019 Experian Consumer Credit Review also found that the average age Americans are reaching a FICO score of 700 is the lowest it's ever been, at 54.
The spike in Millennials' credit scores can be attributed to many entering the workforce, advancing in their careers and achieving life milestones, such as purchasing a home, explained CNBC.