Portions have been excerpted with permission from myFICO.com.

• Number of credit obligations
• Past payment performance
• Credit utilization
• Total available credit
• Length of credit history
• Inquiries

By analyzing a large sample of credit file information on people who recently obtained new credit, Fair Isaac was able to survey the panorama of credit activity across the U.S.  The following statistics reflect the average use of credit by today's consumers.

Number of Credit Obligations:  7 cards and 4 loans

Most consumers have a total of 11 credit obligations on record at a credit bureau.  This would include credit cards (e.g., bank cards, department store charge cards, gas cards, etc.) and installment loans (e.g., mortgages, auto loans, student loans, etc.).  Of these 11 credit obligations, 7 are most likely to be credit cards, and 4 are most likely to be installment loans.  How "average" are you?

Checking accounts (including those with overdraft protection) are ordinarily not reported.  Bounced checks that go unpaid will be reported as collection items, however. 

Past Payment Performance:  0 lates for the majority

The vast majority of all consumers pay all of their bills on time.  Fewer than 4 out of 10 have ever been reported as 30 days late on a payment, and only 2 out of 10 have ever been 60 days overdue on a credit obligation.  Only 1 out of 20 has ever been reported as 90 days overdue, and fewer than 10% of all consumers have ever had an account closed by the lender due to a default.  Even if you have abused your credit in the past, you can change your credit habits, live within your means, and improve your future credit destiny.

Credit Utilization:  48% carry less than $1000 balance

About 48% of all credit card holders carry a balance of less than $1,000.  About 10% are far less conservative in their use of credit cards and have total card balances in excess of $10,000.  When the total of all credit obligations are combined (except mortgages), 54% of consumers carry less than $5,000 debt.  This includes all credit cards, lines of credit, and installment loans -- everything but mortgages.  Nearly 30% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.  Where does your debt load fall?

Total Available Credit:  $12,000

The typical consumer has access to more than $12,000 on all of their credit cards combined.  More than half of all people with credit cards are using less than 30% of their total credit card limit.  Just over 1 in 8 are using 80% or more of their credit card limit.  Maintaining low balances (below 30% on all cards) is essential to maintaining a high credit score.  Increase your credit limits annually to lower your debt ratios and increase your credit power.

Length of Credit History:  13 years avg.

The average consumer's oldest credit obligation goes back 13 years, indicating that they have been managing credit for quite some time.  In fact 1 out of 5 consumers, who recently applied for credit, have had credit histories of 20 years or longer.  Only 1 in 20 consumers had credit histories shorter than 2 years.  Your credit history becomes a portion of your life story.  Establish credit early and maintain a timely payment history.

Inquiries:  93% have fewer than 4

Whenever someone applies for credit and the lender requests a copy of the credit report, the request is indicated as an "inquiry" in the applicant's credit profile.  The average consumer has had one inquiry on their accounts within the past year.  Fewer than 7% of all consumers have had four or more inquiries resulting from a search for new credit.  Shop for credit wisely to avoid excessive numbers of inquiries.