Lifetime Credit Score Cost


Man looking over water

It’s quite an interest.

Flickr / Sarah Murray

According to Credit.comthe typical person will likely pay $279,000 in interest over their lifetime.

When you borrow money, whether from a mortgage lender or a credit card, you are paying for this privilege, and these payments are called “interest”. However, the amount you pay depends on your credit score. has created a calculator so people know how much their loans and lines of credit can cost them over a lifetime.

Their calculations are based on mortgage payments, car loans and credit card payments. To arrive at the final number, assumed:

  • a 30-year mortgage with an interest rate of 4.5%
  • an interest rate of 6.075% for a term of 64 months (9 cars)
  • a credit card interest rate of 15%

We decided to try it for a 35 year old man living in New York.

Here’s what it looked like.

Step 1: Enter your age, gender, state of residence and credit score.

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Step 2: Enter your mortgage payment, car loans and credit card payments. provides averages for these payments, which we used for our calculations. You can choose to keep their averages or enter your own numbers for a better estimate.

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And you are done. You can move the slider to see what you would pay if your credit score was higher or lower.

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Here are the costs calculated by for us, based on credit score:

  • Excellent credit score of 740 or more: $480 386
  • Good credit score of 680-739: $521,556
  • Fair credit score of 620-679: $603,740
  • Bad credit score of 550-619: $755,304
  • Bad credit score of 550 or less: $910,109

We also tried the math as a woman while keeping everything else the same and found that the worse the credit score, the more interest women paid than men. For example, using excellent credit, the women only paid $1,000 more. However, using bad credit, the difference was $5,000.

This can be explained by the fact that assumes a life expectancy of 77 years for men, but 82 years for women, who tend to live longer.

This post has been updated to include the average life expectancy assumed by


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