National Average FICO Score Drops for First Time in Decade

The average credit score fell one point to 717 in October 2023
Drop attributed to increase in missed payments, debt levels

Borrowers missing more payments and consumers taking on more debt are considered the main drivers of the decline.
Photographer: Artur Widak/NurPhoto/Getty Images

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By Immanual John Milton

March 6, 2024 at 1:00 PM UTC

This article is for subscribers only.

The average consumer credit score in the US has dropped for the first time in a decade, albeit by just one point.

The score dipped to 717 in October from 718 in July, according to Fair Isaac Corp., the Montana-based creator of the FICO credit score. Borrowers missing more payments and consumers taking on more debt are considered the main drivers of the decline, the data analytics firm said in its March 6 report, citing the latest available figures.