ATLANTA - We often tell you how important a good credit score is. And many of us have struggled from time to time with that very important number. But, there is some good news to report.
Look at this - 700. It hasn't been this high since 2005, according to new data out. And this score puts many people now in the "good" credit score range. This is great news. A higher credit score means more access to cash like loans.&
Scores really took a hit leading up to and after the real estate crash in 2008. People lost jobs and homes went into foreclosure. There were mounting bankruptcies. Those were dark days for many of us. But the economy has been progressively improving in the last few years. And, all of those bankruptcies are starting to fall off credit reports. A recent banking report says that six million American adults, in the next five years, will see those credit blemishes fall off of their credit reports.
And those Americans who are seen as some of our more financially risky consumers are in better shape, too.