The average FICO score has reached 706 -- a new high.
The score provided by FICO, named for the Fair Isaac Corporation, is widely used as a measure of a person’s creditworthiness.
There appear to be two key economic drivers contributing to these steadily rising scores, Ethan Dornhelm, vice president of FICO scores and predictive analytics, told MarketWatch in an email. One is a “stable and growing economy driving low unemployment, higher wages, and greater financial health,” he said.
Dornhelm cited the National Consumer Assistance Plan, an effort led by Equifax EFX, +0.81% , TransUnion TRU, -0.98% and Experian EXPGY, +0.56% to make credit scores more accurate, in part by removing data such as medical debts.
“Not only are account-level delinquencies down by double-digit percentages relative to 2009, but other key factors such as credit-seeking activity and the ratio of balances to credit limits on card accounts are substantially improved as well,” Dornhelm added.
Millennials, who are now between the ages of 23 and 38, have had less time to build up a solid credit history, so they tend to have lower credit scores on average than their older counterparts. Millennials’ average FICO score in the fourth quarter of 2018 was 665, according to Experian, compared to baby boomers’ 732 and the silent generation’s 756.Read more: MarketWatch
One measure shows Americans paid $6.8 billion in tariffs during July — the most in American historyThe month of record trade-war costs came before significant tariff escalations between the US and China, This is what Americans are paying, not China, Americans, when is this going to register , add 1 trillion to your debt and trying to remove healthcare from thousands of Americans, this is not helping people, WHY, so rich get richer, Trump is hurting Americans And I have to wonder will Fox news report this? Said rhetorically What do the other “measures” show?
Average FICO score hits all-time highMore people understand their credit behavior, and are checking their scores more often. Not this one
Peter Andre slammed by son Junior as the teenager brands him a 'one hit wonder'Peter, 46, was forced to defend his music career after the 14-year-old's brutal jibes, saying he'd had three number ones It was so funny, and hearing Peter in the background laughing also That wasn't a very nice thing to say because his dad has always been a good dad to all of his children X
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'Frozen dragon of the north wind' was one of the largest animals to ever flyIf you're a 'Game of Thrones' fan, the name of this newly discovered giant flying reptile might evoke familiar imagery. Cryodrakon boreas, a previously unknown type of pterosaur, was one of the largest flying animals that ever lived. The name means 'frozen dragon of the north wind' and it flew over North America 77 million years ago. LadyMandyisms The artist that colored this took a few liberties there, eh? 🇨🇦 Beautiful😄😄