Whats the National Average Credit Score?
While financial experts recommend checking your credit every three months, you may want to consider taking a second look if you haven’t checked your score recently. Because of recent changes in the scoring system, many people are finding that although they once had good credit, they suddenly are getting denied. Credit card companies are sending out notices that spending limits on credit cards are being slashed because of lower scores, and individuals are really stuck in a bind. By checking your score online for free, you can instantly see where you stand and how you compare to the national average. Prior to these changes, the national average credit score in America was around 720 points. Over the past 9 months, that has dramatically dropped to around 680 points and causing a lot of problems for people. Why was the rating system changed? The exact formula for determining your loan rating is not public knowledge, but over the years credit experts have been able to figure out what exactl
