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Spiking foreclosures and higher credit card delinquency rates could easily give you the impression that a broad swath of Americans are watching their credit scores plunge.
But that doesn’t seem to be the case. Overall credit scores and bankruptcy scores seem to be stable, according to David Rubinger, spokesman for Equifax credit bureau.
The bureau monitors changes in its own, in-house credit score as well as its Bankruptcy Navigator Index (BNI 3.0) scores. Both types of scores have remained stable despite turmoil in the housing market and the uptick in credit card delinquencies.
The lesson to draw? The folks having the most trouble with their credit are the ones who’ve long had credit problems. The rest of us seem to be doing okay.
