Does Credit Score Improve With Age?

Having good credit opens the door to a host of financially beneficial opportunities. If your credit score is excellent, you're likely to have an easier time not only getting approved for loans, but snagging the most favorable rates out there.

Of course, a strong FICO score won't magically show up on your record overnight. It takes time to build a good credit score, and the older you are, the more opportunity you have to establish a solid payment history. Furthermore, since length of credit history is a key factor that goes into determining your score, it stands to reason that the older you get, the more your score is likely to climb. But while credit score has the potential to improve with age, it doesn't always work out that way.

IMAGE SOURCE: GETTY IMAGES.

Source: Fool.com