Answer (from WSJ; subscription): 700 as of April, 2017

More from WSJ:

Credit scores for U.S. consumers reached a record high this spring while the share of Americans deemed to be some of the riskiest borrowers hit a record low—a potential boon for lending and economic activity.”

As for the reasons why credit scores continue to climb:

• Bankruptcies and foreclosures stemming from the Great Recession are being wiped off the books (from Pymnts.com):

“What’s more, the recession and housing collapse are a few years behind us, helping improving the balance sheets of a slew of Americans. The report noted that those foreclosures and bankruptcies are now off those credit reports. Over the next five years, more than six million adults in the U.S. will see their personal bankruptcies disappear from the credit scores, said the WSJ, citing recent data from Barclays.”

• Investors think this augurs well for VISA and Mastercard as higher credit scores means more eligible cardholders (Barrons):

“The average credit score for Americans hit 700 in April, the best level since 2005, according to data analytics company Fair Isaac. The percentage of Americans with scores below 600 fell to 20% down from 25.5% in 2010. Bankruptcies and other financial difficulties stemming from the recession are starting to roll off of credit histories, the Wall Street Journal notes.

Banks are more likely to lend to people with good credit. It’s already clear they’ve been extending credit to new customers — 171 million people in the U.S. now have credit cards, the highest number since 2005, according to credit monitoring company Transunion.”

• As credit scores become more accessible to consumers, there is a belief that awareness leads to better money habits (from Marketplace audio)

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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