Wednesday, July 22, 2009

Debt is down, but so are some credit scores

SAN FRANCISCO (7/20/09)--Credit unions may get questions from their members about credit scores, especially if the members have been working off their debt and find their credit score is less than a year ago. While debt for the average American is down, many are seeing lower credit scores.

Credit card companies that tightened their credit available to consumers the past two years have impacted their cardholders' scores, according to a survey by Credit Karma, a San Francisco-based online research and education business.

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