43 Million American’s Credit Scores Now a Poor Risk for Lenders

denied loan

A quarter of Americans have a credit score below 599.

Credit scores of millions of Americans are sinking to new lows.  Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.

 

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