Gen Z’s credit scores are dropping. Here’s what to do if yours is too

KEY TAKEAWAYS:

Gen Z saw the largest credit score drop, falling to 676.

Student loan debt and resumed federal reporting drove the decline.

Low scores affect loans, credit cards, mortgages, and insurance access.

Experts advise checking scores, paying on time, and managing debt carefully.

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 mathematical formula that helps lenders determine h