FICO credit scores have steadily improved for a decade, but increases in missed borrower payments and rising consumer debt levels are starting to take a toll.
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.
You're not a member! Trial today
A good score is generally above 670, an excellent score is over 740, and anything above 800 is considered exceptional.
The downturn in FICO scores requires ongoing monitoring.
Join our Investor Club for a 14-day free trial and access next Monday’s 30-minute live webinar, during which I’ll outline the must-have market playbook.
