FICO Reports First Decline In Decade: Average Credit Score Drops To 717

FICO, a prominent provider of credit scoring systems utilized by lenders, has reported a minor decline in the national average credit score. After experiencing a constant rise over the last decade, the average score plummeted from its peak of 718 in early 2023 to 717. This recent drop in the average consumer credit score in the U.S., marks a significant departure from the decade-long trend of steady increases.

The National Average FICO® Score Has Increased during the Third Year of the Pandemic (Source: FICO)