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Gen Z's Credit Scores Are Dropping. Here's What to Do if Yours Is Too
- Gen Z's average credit score dropped three points to 676, marking the largest year-over-year decrease among any age group since 2020, according to a report from FICO.
- 34% of Gen Z consumers have open student loans, compared to 17% of the total population, contributing to the decline in credit scores due to student loan delinquency reporting.
- Courtney Alev from Credit Karma stated that ongoing economic instability makes it harder for Gen Z to maintain financial stability.
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Why Gen Z’s credit scores are dropping—and what to do if yours is too
Gen Z has seen its credit scores drop more than any other generation over the past year, largely because of student loan debt, according to a new report out this week. The total national average credit score dropped two points this year to 715, according to the report from credit scoring company FICO. But Gen Z’s average score dropped three points to 676, the largest year-over-year decrease among any age group since 2020. A credit score is a mat…
Coverage Details
Total News Sources13
Leaning Left6Leaning Right3Center4Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 31%
R 23%
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