If you’re looking to improve your credit score fast, you might be interested in ChatGPT’s advice. When the artificial intelligence (AI) chatbot was asked how one could raise their credit score 150 points within six months, it said that a 150-point increase in six months is aggressive, but possible, if the credit file is established and the issues are fixable. Interested in improving your credit score? Here are the steps ChatGPT recommended. Also see six smart ways to get approved for loans and credit ca ...

Core Insights - Credit scores for individuals in their 30s and 40s are generally strong, with millennials averaging 691 and Gen Xers averaging 709, both falling within the "good" range for credit approval [1][2] - Age alone does not guarantee a high credit score; factors such as payment habits, available credit, and frequency of new account applications are crucial [1][6] Average Credit Scores by Age Group - Gen Z averages a credit score of 681, Baby Boomers average 745, and the Silent Generation averages 760, positioning millennials and Gen Xers in the middle of the spectrum [2] - The score gap between Gen Z and Baby Boomers is 64 points, while the gap between millennials and Gen X is 18 points, indicating a plateau in scores during the 30s and 40s [3] Lender Considerations - Lenders categorize borrowers using FICO score ranges, with "good" scores typically leading to approvals for credit cards, auto loans, and mortgages [4][5] - Achieving a "very good" or "exceptional" score can unlock competitive rates, potentially saving thousands over the life of loans [5] Credit Score Improvement Factors - Individuals in the "fair" or "poor" range may face higher interest rates and larger down payments, but improving to "good" can significantly reduce monthly payments [6] - By the age of 40, individuals usually have a longer credit history and better credit behavior, contributing to higher scores unless impacted by financial difficulties [7][8]

In June, the Fair Isaac Company, better known as FICO, announced it would be making a change to the calculation of its credit scores to now include buy now pay later loans. Here to explain what that means for your money is Yahoo Finance Banking lead editor and content strategist Casey Bond. So Casey, let's just set the table here.How is a credit score calculated. Yeah, so there are a handful of factors that go into that calculation. The most important being your payment history.So, paying your bills on time ...