Biz: Credit scores: FICO says some doing worse, others doing better
- 25.5% of all consumers have credit scores below 600 – far higher than usual (blame unemployment)
- 17.9% of all consumers have credit cards above 800 – also higher than usual (impressive) source
- » Why this matters: Low scores tend to stick around a long time, as much as seven to ten years, making it hard to recover from bad decisions or worse luck. But it appears that those who stayed afloat during the recession learned an important lesson – paying down debt and spending less is better than having a low credit score.