The CEO of Mica Smith's founder, Fox News Digital talks about the crisis crisis finance and how it is resolved.
Average US credit score across the country declined, mainly due to resuming Federal Student Loans According to the FICO, reports of crime reports on US consumer credit reports.
The scoring agency reported that the US national FICO average, which is used as a criterion for assessing consumer credit risk-decreased to 715, indicating a one-point drop in January and a two-point decline in April 2024.
FICO scores, ranging from 300 to 850, fluctuates based on the update to the borrower's behavior traced by the three large US consumer reporters agencies: Equifax, Transunion and Experian. These scores are used by banks and lenders to see who can lend them safely.
FICO scores vary based on borrower's behavior updates traced by three large US consumer reporters agencies: Equifax, Transunion and Experian. (ISTOCK / ISTOCK)
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The FICO regularly releases the national average score and provides key insights into consumer credit status.
According to the FICO, federal student loan offender has been reported in credit cases since February 2025, after a multi -year emergency pause on interest and payment of federal student loans under Cares law and a one -year “Grace” course by the Ministry of Education Payment of Student Loans.
Consumers' share with more than 90 days in the past six months has increased from 7.4 % in January to 8.3 % in February. This is the first time this figure has surpassed the pre -credit level. In January 2020, according to FICO, it was 8.1 %.
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Tommy Lee, chief analyst and scores at the FICO, said in a Wednesday blog post that 2.7 million borriers with a new student loan were reported since February 2025, but about 5.4 million additional consumers with student loans have not been reported, even if they had not paid for a student loan since October 2024.
College students celebrate at the graduation ceremony. (ISTOCK / ISTOCK)
If they fail to pay, these borrowers are also at risk of their credit score and a 90 -day student loan is reported in their credit file. According to Lee, this could lead to a further decrease in the average FICO score over the next few months.
Compare, about 12.4 million borriers have made at least one student loan payment since October 2024 and if they continue to pay timely, they are in a good position to maintain or improve their credit score.
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The FICO also reported that some consumers are also witnessing moderate improvements in the use of credit, which is the total amount of personal credit they use. This metric shows 30 % of the FICO score.
According to FICO, average The use of credit card has decreased From January to February due to the seasonal decline in credit cards after holidays. According to the scoring agency, this was partly compensated for the score.