CreditKarma.com (which provides free credit scores) recently released an infographic “The Lifecycle of Debt and Credit Scores” that shows both the average credit score and the average amounts of different debt types by age bracket. I notice that mortgage debt jumps significantly from the 30-34 to the 35-39 bracket, and sadly doesn’t go back down to those levels until past age 80. I’m surprised by the amount of mortgage debt from the 65+ crowd.
It’s also a little sad to see credit card debt being held by someone 95-99, and I also wonder why average credit scores start to decrease again after age 80. Is it because of increased money problems from health issues, or something like a “you can’t take it with you” attitude?
By Jonathan Ping | Credit Cards | 12/19/11, 2:26am