The average national credit score dropped by two points this fall compared to the same time a year ago, according to new findings by FICO.
FICO says the average score now stands at 715. The survey found that Gen Z was hit the hardest due to increasing credit card and student loan debt.
The findings also showed that the share of consumers in the middle credit score range fell, as more people moved into either the upper or lower tiers.
FICO says auto loan delinquencies have increased 24% since 2021, bankcard delinquencies are up 48%, and mortgage delinquencies are up 58%. The report said personal loan delinquencies have declined since 2021, which it attributes to tighter underwriting.
The report also found that Gen Z and millennials were less likely than Generation X and baby boomers to check their credit scores at least once a year.
“We created the FICO Score Credit Insights report to help the industry uncover the most impactful trends influencing consumer credit behavior,” said Julie May, vice president and general manager of B2B Scores at FICO. “This data shows how consumers are adapting — whether by prioritizing essential payments like auto loans, navigating the return of student loan obligations, or actively monitoring their credit health. We hope this proves to be a powerful tool for lenders, policymakers, and advocates working to support financial resilience and inclusion.”
