Credit scores decrease for the first time in a decade as more borrowers fall behind on payments
- The national average credit score fell to 717, according to a new report from FICO.
- Credit scores had steadily improved for a decade, but increases in missed borrower payments and rising consumer debt levels are starting to take a toll.
- As of October, the average credit card utilization was 35%, up from 33% a year earlier, and the share of borrowers with a 30-day past-due missed payment against their credit accounts was also higher.
