National FICO Credit Score Average Hits All-Time High
- 6 years ago
National FICO Credit Score
Average Hits All-Time High Credit scores play a role in many aspects of daily life, including credit cards, car loans, housing rental and mortgages. For the first time ever, the national average credit score has reached 704, which is considered "solidly good," according to Ethan Dornhelm, VP for scores and analytics at FICO. As a result, "consumers will be
qualifying for most credit that
they are hoping to get," says Dornhelm. FICO scores range from 300 to 850. New standards for public records, Consumers are checking their scores more often, but credit card balances
and delinquencies are steadily rising. Ethan Dornhelm, VP for score and analytics at FICO, via CNBC As the number of credit card
accounts increases in the U.S., most new customers will be subprime borrowers with a credit score of 660 or below.
Average Hits All-Time High Credit scores play a role in many aspects of daily life, including credit cards, car loans, housing rental and mortgages. For the first time ever, the national average credit score has reached 704, which is considered "solidly good," according to Ethan Dornhelm, VP for scores and analytics at FICO. As a result, "consumers will be
qualifying for most credit that
they are hoping to get," says Dornhelm. FICO scores range from 300 to 850. New standards for public records, Consumers are checking their scores more often, but credit card balances
and delinquencies are steadily rising. Ethan Dornhelm, VP for score and analytics at FICO, via CNBC As the number of credit card
accounts increases in the U.S., most new customers will be subprime borrowers with a credit score of 660 or below.