US consumer credit score hits the biggest drop since the 2008 financial crisis

Golden Finance reported that the credit score of US consumers has dropped the largest since the aftermath of the global financial crisis in 2008. A report released by Fierdger on Tuesday showed that the average FICO credit score in the United States fell from 717 a year ago to 715 in April, the second consecutive year of year-on-year decline. The credit scoring agency attributed the decline in scores to rising credit usage and default rates, including the recovery of student loan default reports. Student loan default rate hits record highs.