National Credit Scores Dip at Fastest Rate Since Great Recession

NEED TO KNOW

The national credit score average dipped by two points, the fastest decrease since 2009

The drop is partly because people are now having to navigate student loan payments, which were in forbearance for much of the pandemic

While not everyone is struggling, many Americans are grappling with higher interest rates and higher prices, putting them further into debt

The national average credit score dropped by two points in the past year, the fastest decrease since the Great Recession.

A new report from FICO, the leading score used by U.S. lenders, revealed that the average score decreased from 717 to 715 since 2024. This shift is partly because people are revisiting their federal student loan payments after the pandemic-era forbearance ended in fall 2023.

The drop is anothe