Reported 4 months ago
According to VantageScore's CEO Silvio Tavares, the average American credit score has improved following a recent decline. While the overall consumer credit health is good, there are segments, particularly younger and less affluent consumers, showing signs of weakness, with increased delinquencies seen in credit cards. However, other credit products did not show a rise in delinquencies compared to pre-pandemic levels. Banks are increasing lending despite expectations of tightening credit, as consumers maintain high average credit scores and employment rates.
Source: YAHOO