Key measure of US economic health plunges by biggest amount since 2008 crash in latest recession red flag
America's credit score just took its biggest hit since the 2008 crash. The average FICO score in the US has dropped to 715 from 717 — the largest one-year drop since the Great Recession, according to new data from the credit-rating giant FICO. The slip may sound small, but experts say it's a red flag for household finances. Americans are falling behind on more bills. Credit card balances are up, interest rates remain high, and more borrowers are struggling to keep up with payments on everything from car loans to mortgages.
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