COSTA MESA, Calif. (11/20/15)--Nationwide, credit health continues to improve, with the overall U.S. credit score climbing three points compared with 2014 levels and five points since 2013, according to Experian’s State of Credit study.
The 10 cities with the best credit beefed up their scores by an average of 1.8 points. Furthermore, the study found that financial institution-issued card growth and mortgage lending both improved.
“If I were to give a grade to the overall picture of credit in the United States, I would give it an A minus,” said Michele Raneri, Experian vice president of analytics and new business development. “I’m optimistic about the state of credit as we are seeing more loans being extended, late payments decreasing, and consumers continuing to gain more confidence in originating loans.”
“There definitely is growth and momentum,” Raneri added. “We’re back to prerecession levels in nearly every category, which means lenders are in a prime position to capitalize on this market and foster business growth.”