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Gen Z Leads Biggest Drop In FICO Scores Since Financial Crisis
An anonymous reader quotes a report from Bloomberg: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world's economy. The average FICO score slipped ...
An anonymous reader quotes a report from Bloomberg: Gen Z borrowers took the biggest hit of any age group this year, helping pull overall credit scores lower in the worst year for US consumer credit quality since the global financial crisis roiled the world's economy. The average FICO score slipped to 715 in April from 717 a year earlier, marking the second consecutive year-over-year drop, according to a report released Tuesday by Fair Isaac Corp. FICO scores are a measure of consumer credit risk and are frequently used by US banks to assess whether to provide loans.
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