Home / Credit in the News - Up to date News Flashes

Latest News Story

Aug 21, 2015

According to the latest analysis from Fair Isaac Corporation, the creator of the FICO score, average credit scores are rising and delinquent payments have dropped. The national average FICO score is now 695, which is the highest its been in at least a decade. In addition, almost 20% of consumers now have scores above 800. 

Why is this? 

The rise is partly due to a drop in seriously delinquent accounts. When your payment history is bad, your credit score goes down. As a result, if you pay off your debts, your credit score will improve. The drop in late payments reflects the...