Aug
21
Credit Scores Are Rising, and Becoming More Visible
ByConsumers appear to be better these days at managing their use of credit: Average scores have reached new highs and delinquent payments have dropped.
The national average FICO score is now 695 — the highest it has been in at least a decade, according to the latest analysis from Fair Isaac Corporation, the score’s creator. Nearly 20 percent of consumers now have scores above 800.
Basic FICO scores, which are calculated using information in credit reports and are widely used by lenders, range from 300 to 850. Your score helps determine whether you are approved for a loan, as well as the terms you are offered…
Credit Scores Are Rising, and Becoming More Visible
