The national average credit score — which had been steadily increasing for over a decade — fell for the second year in a row, according to a new report from FICO, developer of one of the scores most widely used by lenders.

The average score is now 715, down from 717 in 2024 and 718 in 2023. FICO scores range between 300 and 850.

High interest rates and higher prices have been a drag on many Americans' financial standing. Consumers, overall, are falling deeper into debt , causing an increase in credit card balances and an increase in missed payments, FICO found. That contributed to the average score decline.

"I'm not surprised that credit scores are slipping," said Matt Schulz, chief credit analyst at LendingTree. "Millions of Americans are struggling mightily in the face of

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