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Finance, Credit and Loan Information

Money in Your Pocket: Good news for credit scores

SYRACUSE, NY (WSYR-TV) – Good news for consumers and the economy is that credit scores are improving, and the scores are at an all-time high right now.

The number of people with poor scores is dropping quite a bit.

Back during the recession in 2005, the number of people with poor credit scores was about 25%.

Since this, the number has dropped to 20%. So about 1 in 5 people have what would be considered a really poor credit score.

This is good news not only for consumers, but for the economy as well.

Furthermore, with bankruptcies coming off in 7 to 10 years, we’ll see the effects from the recession continue to wear off.

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