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Mikeya Abigail CEO, Mikah Smith, which affects the founder and finance, talks to Fox News about the financial crisis and how to correct the financial crisis compared to a quiet credit crisis.
The US average score slipped on the grounds of national, mainly Federal Student Loan According to the FICO, US consumers reported on credit reports.
The evaluation agency fell to 715 used as a secondary average FICO account, consumer credit risk, a drop from one point in January and the two-point landing since April 2024.
FICO scores from 300 to 850, three main US consumer reporting agency waves based on borrowing behavior: Equifax, Transunion and Experan. These scores are used by banks and lenders to see who can reliably lend to whom.
FICO scores are based on the updates based on borrowing behavior followed by the three major US consumer reporting agency: Equifax, Transunion and Experian. (ITOK / ISTOCK)
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FICO regularly publishes a national average account by offering the main idea of the consumer loan situation.
According to FICO, federal student loans violations, federal student loans and the Federal Student Credit Percentage and research department and a one-year “On-Ramp” compromise and a one-year “On-Ramp” compromise again reported once again of credit documents again Student loan payments.
The share of consumers for more than 90 days in the last six months in February and increased by 7.4% to 8.3% in January. This figure exceeded pandemic levels in advance for the first time. In accordance with FICO, it was 8.1% in January 2020.
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Tommy Lee, FICO Director General, said that 2.7 million borrowers in the blog posted a new student loan, but in October 2024, 2024 reported that there were no student loans.
College students celebrate during the graduation ceremony. (ITOK / ISTOCK)
These borrowers, if they do not make payments, the risk of affecting the credit account and the new 90-day student loan pays for the credit file. According to Lee, this may cause this more decrease in the average FICO account in the next few months.
Comparative, about 12.4 million borrowers have made at least one payment on the student loan since October 2024 and continue to make timely payments, they are in good condition to protect or improve their credit accounts.
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FICO said that some consumers have seen humble progress in the use of credit, which is how much is the total loan of someone. Represents 30% of the metric FICO account.
According to the FICO, the average Credit card usage decreased Due to the seasonal decrease due to the afterlife credit card balance in January-February. According to the scoring agency, this partially abandoned the decline.
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