Credit Scores Remain Stable Despite Surge in Buy Now Pay Later Loans, FICO Reports

Credit Scores Remain Stable Despite Surge in Buy Now Pay Later Loans, FICO Reports
2 months ago

As the trend of Buy Now Pay Later (BNPL) services continues to gain traction among consumers looking for flexible payment options, a new report by FICO has revealed that most credit scores remain unaffected by these financial products. This insight comes at a time when increasing numbers of consumers are turning to BNPL as a means to manage their purchases without the immediate financial burden of upfront payments.

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US Average FICO Score Remains Stable After First Drop in a Decade

US Average FICO Score Remains Stable After First Drop in a Decade
6 months ago

The average FICO score of Americans has shown remarkable resilience, holding steady at 714, according to the latest data released. This stability comes on the heels of the first decline in scores in ten years, which was reported earlier in the year. FICO scores are crucial as they significantly influence the borrowing power of individuals, affecting everything from home mortgages to credit card applications.

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