AgentIndustry News

High consumer debt not always bad

Study finds higher credit scores for those with debt above national average

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A high level of consumer debt isn't always a negative factor for consumers, according to the results of a nationwide study conducted by Experian Consumer Direct. The study found that the national average credit score for consumers with debt above the national average is higher than the average credit score for those with debt below the national average. The national average Experian PLUS Score for consumers is 677. Overall, the study found: U.S. consumers' average debt is 12 percent higher compared to the same time last year. U.S. consumers have an average debt of $11,224 compared to last year's average debt of $10,024. 25 percent of U.S. consumers have debt that is above the national average and their average Experian PLUS Score is 695. The average PLUS Score for consumers with debt below the national average is 671. Consumers can manage their credit score by reviewing their credit report on a regular basis, which also enables them to catch early signs of potential identity ...