"Decade-Long Streak Broken: Average Credit Scores Drop for the First Time"
TL;DR Summary
The average FICO credit score in the U.S. has dropped to 717, the first decline since 2013, attributed to high interest rates and inflation leading to more missed payments and increased debt levels. Despite this, a 717 score is still considered good, but over 18% of Americans were at least 30 days behind on credit card payments in October 2023. To improve credit scores, individuals can focus on paying bills on time, increasing credit limits, and using services like Experian Boost™ to link on-time utility and phone payments to their credit report.
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- Average Credit Scores Worsened For First Time In A Decade, FICO Says Investopedia
- National Average FICO Score Drops for First Time in Decade Bloomberg
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