Reported about 5 hours ago
According to a report by Fair Isaac Corp, Gen Z borrowers experienced the largest drop in FICO scores of any age group this year, contributing to the overall decline in US consumer credit scores, which is now at its lowest since the global financial crisis. The average FICO score decreased to 715 in April, with Gen Z's average score falling to 676. This decline is mainly attributed to increased credit utilization and delinquency rates, exacerbated by the resumption of student loan delinquency reports, which particularly impacts Gen Z, as 34% of them are still repaying student loans.
Source: YAHOO