Why has the NATIONAL Average FICO Score NOT dropped from 680?

[Anonymous]

Silly question, that has me wondering every time I turn on the news. IF the US economy is in such bad shape and the number of Americans are so behind in their payments, loans being called, banks closing, bailout and the stock market crashing because of the "credit crises" why is the national FICO score not dropping like a rock?

Possibilities;
A) Fico does not really work gathering national average of 680
B) The bad loans are from non Americans (not likely)
C) The News lies
D) Banks are not really in trouble because of bad loans in the “subprime market”
E) Homes are not in default? HAHAHAHAHA


Thus all I can think of is FICO does not reflect the true credit scores of Americans….

[haulingthescoreup]

My guess would be that they don't frequently recalculate the average.

[Anonymous]

I would say so it has not changed in a few years, good times, bad times it can't be stuck at 680 all the time though....

Everyone's credit changes some times a few times a month so it should be a semi fluid number in the decimal places but come on its been static for quite some time.

[athensguy]

I doubt they ever actually calculate the mean and median scores. They probably use a large number of files during the development of new scores so that the numbers are what they want, and then leave it at that.

[Anonymous]

I suspect it has in fact dropped. Hard to tell, since credit scoring doesn't actually measure any fixed quantity or amount; it's not even furlongs per fortnight, which at least can be converted into something serviceable.

[haulingthescoreup]

This 680 score is not FICO; it's the Experian PLUS score.

[Madison]

Where do you get the National Avg Fico Score is 680? Source?

You would think if anyone is paying their bills on time and making the minimum payment, their credit scores should go up as others are getting pinged on their credit scores due to the economy.

[Anonymous]

Got the score from myfico so I guess it should be ok...

Asked my banker and he said 680 as well. So if 680 is not the avg. REAL FICO score what is the avg. FICO score and what has it been over the last two years?

By all reasoning it should be dropping with the foreclosure rates increasing and the news reports of the increasing rate of bad consumer debt.

[Miner]

My myfico reports all tell me that I'm a little under average and yet my scores are all above 680 but below 700.