Congratulations, America! Our credit scores are continuing to improve, according to Experian’s recently released 2015 State of Credit study, which shows the average U.S. consumer credit score is 669. That’s three points higher than a year ago, and five points higher than our average credit score in 2013 – and it points to a healthier credit and lending landscape. In this article from The Street, Brian O’Connell highlights some of the details from the study.
Americans are, on average, in pretty good shape when it comes to their credit score and improving all the while. The U.S. consumer credit score, based on the cumulative averages of American adults, is 669, according to Experian’s 2015 State of Credit study, released this week. Anything over 700 is considered by credit experts to be a good number.
“If I were to give a grade to the overall picture of credit in the United States, I would give it an A-,” notes Michele Raneri, vice president of analytics and new business development, Experian. “I’m optimistic about the state of credit as we are seeing more loans being extended, late payments are decreasing and consumers are continuing to gain more confidence in originating loans.”
“There definitely is growth and momentum – we’re back to pre-recession levels in nearly every category, which means lenders are in a prime position to capitalize on this market and foster business growth,” she says.
Experian also notes that bankcards, retail cards and mortgage lending showed significant growth this year, giving the U.S. consumer credit landscape a firmer platform for growth.
