Does your generation decide your debt or credit score? The credit reporting agency Experian has completed a trend study on the four generational age groups regarding debt and credit scores. The results just may surprise you, and prompt you to take a look at your own credit report (one free report annually through the Federal Trade Commission at


“While ‘generation gap’ is a common term when referring to topics such as music, fashion, culture and politics, the study reveals that age groups manage their money and debts quite differently as well,” said Michele Raneri, vice president of analytics, Experian.


The results of the study are as follows (with average debt and credit scores):


Greatest Generation (ages 66 plus) – debt $38,043 with the highest credit scores 829.

Baby Boomers (ages 47 to 65) – debt $101,951. Credit score 782.

Generation X (ages 30 to 46) – debt $111,121 (highest amount) Credit score 718 (second to lowest)

Generation Y (ages 19-29) – debt $34,765. Credit score 672.


The study shows that the average national debt* is about $78,000 and the average credit score is 751.

* Average debt for this study was calculated using mortgage loans, auto loan/lease, other types of installment loans and revolving accounts, but not necessarily a combination of all for each consumer.


“For all consumers, establishing and maintaining a positive credit history is an important step in achieving financial goals,” said Maxine Sweet, vice president Consumer Education, Experian. “At any age, paying bills on time is the single most important contributor to good credit.”


As important as your credit score is, you should be aware of all the resources available to you to protect and correct your credit identity. Under the Fair Credit Reporting Act, “FCRA”, consumers have many rights regarding their credit reports, including having errors removed. Michigan Consumer Credit Lawyers represents consumers struggling to clear up their credit and we do it all for FREE. These lawsuits cost you nothing. The attorneys’ fees and costs are shifted, by law, to the Defendant to pay. The consumer walks away with a measure of justice and a check from the credit reporting agency.


If you have items on your credit report that are incorrect, call or email Attorney Gary Nitzkin for a free consultation at (888) 293-2882. For more information about your credit rights as a consumer, visit our website at, where you’ll find articles, “how to” videos and more.