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The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
2004 study found that African American and Hispanic consumers constituted over 60% of the consumers having the worst credit scores. [35] 2004 study found the median credit score for whites in 2001 was 738, but the median credit score for African Americans was 676 and for Hispanics was 670. [36]
The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15] According to FICO, the median FICO credit score in 2006 was 723 [16] and 721 in 2015. [17]
Key takeaways. Length of credit history makes up 15-20 percent of your credit score. It takes time and responsible use of credit accounts to build a long credit history.
FICO lists five factors that contribute to your credit score, each of which is weighted differently: Payment history: 35%. Amounts owed: 30%. Length of credit history: 15%. New credit: 10%. Credit ...
To find which places have the best and worst scores, WalletHub used data from major credit-reporting bureau TransUnion to compare the "scores of residents in 2,572 U.S. cities." The top 5 US ...