Posted on 03/06/2024 2:29:17 PM PST by 4Liberty
Consumers have been increasingly relying on credit cards to make ends meet, and it may be finally catching up with them.
The national average credit score, which has steadily increased over the last decade, fell to 717 from a high of 718 in the beginning of 2023, according to a report from FICO, developer of one of the scores most widely used by lenders. FICO scores range between 300 and 850...
“It’s a notable milestone,” said Ethan Dornhelm, FICO’s vice president of scores and predictive analytics. “This is the first time in well over a decade that the score went down.”
(Excerpt) Read more at cnbc.com ...
The collapse is nigh.
If 850 was the highest, then mine and my wife's credit scores are like Obama saying he'd win 57 states.
I’m hoping for a stoppage of trading tomorrow. Then the retard can tout his economy in the SotU address.
Depends on which credit score. Some have 900 as the maximum score.
Agreed. I can’t remember if the Bankcard 8 version is the one that goes up to 900, or if that was the one that topped at 850 and what I see is now Bankcard 9 The Last Jedi or Bankcard 11 of whatever.
Was just a matter of time. Younger Americans live for the now.
Good. Now I don’t look so bad. :-)
Bell Curve that beyotch!
Just checked ...
Bankcard 8 is 250-900.
VantageScore 4 is 300-850
FICO is also 300-850
I don’t feel like looking up any others ...
718 to 717 is a big deal?
One point, really? I have excellent credit. My CU and credit card companies post credit scores when I login. From month to month my credit scores may vary from 10 to 15 points and I pay in full all the time...
I once managed a credit bureau. All my life my credit was as good as it gets...a catastrophic wildfire and a corrupt FEMA later, that’s destroyed too.
This government has taken everything me or my family will ever have.
When you speak up, it’s expensive!
I once managed a credit bureau. All my life my credit was as good as it gets...a catastrophic wildfire and a corrupt FEMA later, that’s destroyed too.
This government has taken everything me or my family will ever have.
When you speak up, it’s expensive!
Eff credit...Debt is slavery...Better to do without.
Do you use credit cards? Your credit score will vary with the “statement balance” on them, even if you pay the full statement balance every month and incur no interest charges.
I’m at 795. should I borrow money?
IF you let them make a few dollars in interest by not paying off the entire balance they will drastically raise your credit limit. you know why.
All 3 of the major credit reporting agencies, Equifax, TransUnion, and Experian, use 850 as the max score. My Equifax score is 850, the other 2 a couple points lower. I have lots of credit, but I pay it off every month.
Yes and I pay in full every month. Like I said, my score my vary from 10 to 15 points a month. It is not a bother to me, but suggesting overall credit scores just dropped by 1 point is laughable...
I really have no idea what my credit score is. No plans at all to borrow anything.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.