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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 better economic market for most consumers. The housing market is flourishing, and more people are able to pay for real estate on time.

In addition, many credit card companies, lenders, and banks are offering free access to credit scores, so there is a much higher availability of information. As people know more about their credit score, they are able to improve their numbers. 

Source: New York Times