As a 20 something, I’ve been focusing on building credit only for a couple of years. I had what I consider “good credit” a few years ago, but with mounting credit card debt, a personal loan, an auto loan, and soon to be student loans, I know it’ll take some time before I’m deemed “credit worthy” again. For now, I’m focusing on getting out of debt before getting any more (i.e. a mortgage). Obviously, there’s several things that go into having good credit, and one of them has to do with the age of your credit. If I’m only 21, I clearly can’t have a long credit history, especially since I got my first credit card in 2008. But one of the credit bureaus, Experian, explains where different age groups when it comes to credit with a credit & generational infographic.

Credit & Generational Infographic

As you can see, my generation is just building our credit with student loan and car loan payments. The good thing is we as a group are under the average debt, while Generation X and Baby Boomers are above. That’s even with above average debt with retail cards (clothes to impress our friends) and auto loans (cars we can’t afford to drive). Our Vantage Scores suck though, earning us a D, but it looks like the scores get better with age.

I thought the infographic showed an interesting picture of where we are in our financial lives as far as credit and debt. I would love to be debt free, and plan to one day. It’s going to take a while, but I know I’m capable. Now that I know the potential downfalls according to age group, I know what to avoid.

Are you aligned with your generation on this infographic? How is your credit/debt?