What's the Profile of High Credit Scorers?

by ‎10-25-2012 11:17 AM - edited ‎10-25-2012 11:19 AM

infographic-thumb.jpgWe just released revealing new research on the habits of US consumers with the highest credit scores, specifically those with FICO® Scores greater than 785.


These FICO Score “high achievers” account for roughly 25% of scorable consumers, or more than 50 million individuals. Our research highlights a common thread within their credit behavior.


Overall, these high achievers consistently make payments on time, keep low revolving balances relative to their available credit and only apply for credit that they need. 



Is Growing Student Loan Debt Impacting FICO® Scores?

by ‎09-26-2012 12:08 PM - edited ‎09-26-2012 12:09 PM

As students incur more student loan debt, lenders and investors in student loans are asking how this is affecting US consumers’ FICO® Scores. New FICO research provides interesting insights.


With education costs rapidly outpacing inflation, more consumers are taking out student loans to pay for their education. Looking at a large data sample from a credit reporting agency, we found that 6.2% of US consumers had two or more open student loans on their credit report in 2005. By 2012, that number grew to roughly 11.8%.

Consumers also have a greater amount of student loan debt today. In 2005, consumers with an open student loan on file had an average student loan debt of $17,236. In 2012, that number increased 54% to $26,549. This has outpaced growth for other types of debt, as the chart below shows.



FICO Scores Reflect Slow Economic Recovery

by on ‎09-19-2012 09:42 AM



Our FICO Labs team has taken a fresh look at national distribution of FICO® 8 Scores. With a couple of interesting exceptions, we found that consumer scores are continuing their slow return to a pre-recession pattern.


The first two years of the recession (2008-2009) moved the scores for millions of people into the lowest (300-499) and the highest (800-850) segments of the FICO® Score range. Correspondingly fewer people had scores in the middle range (600-749).



Is US Consumer Credit Availability About to Expand?

by ‎08-01-2012 01:04 PM - edited ‎08-01-2012 01:06 PM

The following guest post by Andrew Jennings was originally published on the FICO Banking Analytics Blog.



Lately I’ve been examining the results of our latest quarterly survey of US bank risk managers. One item of note was regarding the outlook for credit availability.  In a positive sign, our survey found that lenders expected the supply of credit to satisfy demand for all types of consumer loans in the second half of this year. It’s a change from last quarter when survey respondents expected the credit supply for residential mortgages to fall short of demand.


More consumers nearing perfect FICO® Scores, but are scores improving?

by ‎05-01-2012 05:26 PM - edited ‎07-11-2012 12:55 PM

"It’s clear that there’s been a shift at both ends of the score distribution. Many consumers have moved into the top tier of the FICO® Score range by redoubling their efforts to maintain an excellent credit profile. Others have fallen into lower tiers, most likely due to the financial stress felt by many households."


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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