If you want to know how Americans are doing financially, take a look at their credit scores. Credit scores are key to determining whether you’ll qualify for a mortgage, loan or credit card and how much interest you’ll pay. The higher your score, the more likely you’ll be approved for a favorable loan.
The credit scores of Americans tend to fluctuate over time, with different scoring systems showing slightly different results. FICO scores, the most commonly used model, range from 300 to 850 points. The average FICO score was 692 as of April 2014, up from 690 in October 2013 and 689 in October 2012.
VantageScore, the model developed by Experian, TransUnion and Equifax, also shows rising average scores, though they trend a bit lower than the FICO numbers. Like FICO, Vantage scores also range from 300 to 850. The average VantageScore in the U.S. in 2014 was 666, up from 664 in 2013. Credit Repair Houston
However, the average VantageScore rises with age — presumably as consumers build their credit history. Experian’s State of Credit 2013 report found that Americans age 66 and older have the highest average VantageScore (735), while millennials have the lowest (628).
Our Houston Credit Repair specialists lead our clients in the right financial direction so they can be better equipped and prepared to make the right financial decisions. 700 Plus Credit Restoration strives to empower our clients with financial knowledge that affects their credit score.
700 Plus Credit offers a variety of financial services. Our company has extensive knowledge and experience in credit repair and credit restoration, re-building bad credit, negative trade lines, and finance. Texas Credit Repair
700 Plus Credit is committed to helping our clients every step of the way improve their credit profile on the path to financial freedom. We will take every aggressive measure under the law to help you with credit repair and bring your credit score up.