Credit scores decrease， more borrowers fall behind on payments

 

Credit scores decrease for the first time in a decade as more borrowers fall behind on payments

https://www.cnbc.com/2024/03/06/credit-scores-decrease-for-the-first-time-in-a-decade-fico-reports.html

• The national average credit score fell to 717, according to a new report from FICO.
• Credit scores had steadily improved for a decade, but increases in missed borrower payments and rising consumer debt levels are starting to take a toll.
• As of October, the average credit card utilization was 35%, up from 33% a year earlier, and the share of borrowers with a 30-day past-due missed payment against their credit accounts was also higher.
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