New Visitor
Posts: 1
Registered: ‎07-06-2012

Credit Scores and Default rates

Does anyone know where to find good statistics on what the default levels are for different credit score buckets, the average amount of credit card debt they carry, and what the average interest rates are? I would really appreciate any resources you know of. Thanks in advance

Mega Contributor
Posts: 18,434
Registered: ‎03-19-2007

Re: Credit Scores and Default rates

I would peruse the cites of the major federal agencies that regulate credit, such as the Federal Reserve, Comptroller of the Currency, FDIC, and Fed Credit Union Admin.

Many are required to make annual reports to congress, and provide extensive data on consumer use of credit.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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