According to the Consumer Financial Protection Bureau, balances dropped an average of 10 percent from March to June of last year, and the trend continued through 2020, proving true even for people who had been struggling financially before the pandemic. New delinquencies on loans and credit card accounts also fell, after being flat or increasing gradually in 2019.
Experts attribute the improvement to a combination of stimulus payments, expanded unemployment insurance benefits and reduced spending on activities like dining out, entertainment and travel, which left many people with extra cash to pay down debt. That in turn pushed credit scores higher: The average score hit 711 in 2020, Experian reports—up eight points from 2019.
“A significant group now find themselves in a much better position than they were a year ago,” says Matt Schulz, chief credit analyst at LendingTree. “A lot of Americans need credit cards less than they have for quite some time.”
この記事は Newsweek の May 21 - 28, 2021 (Double Issue) 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Newsweek の May 21 - 28, 2021 (Double Issue) 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
PARTING SHOT: Sarah Paulson
\"CAN YOU IMAGINE IF THE AIR WAS JUST FILLED WITH DUST PARTICLES and you literally could not breathe?\" That's what Sarah Paulson is tackling in her new film Hold Your Breath (October 3).
MUSIC: 'Our Country Is in Need of "We Are Family""
Putting family controversy behind her, Sister Sledge's Kathy talks moving on, new music and the 2024 election
ARCHAEOLOGY: The 'Last' Neanderthal
Analysis of the remains of one our closest extinct relatives has challenged existing knowledge of Homo neanderthalensis
AMERICA'S BEST NURSING HOMES 2025
ONE OF THE CHALLENGES OF AGING IS finding the right care from sources that you trust you want to know that you or your loved ones are in good hands during a new phase of life.
CLIMATE HERO OR VILLIAN?
AI COULD REVOLUTIONIZE CLEAN ENERGY, BUT ITS POWER DEMANDS ARE DRIVING UP EMISSIONS
MILITARY: Building Back Stronger
The base from where the U.S. launched its nuclear strikes to end World War II is being revived to counter the growing Asia-Pacific threat posed by China
OPINION: 'Cost of Living Forced Us To Live in Our RV'
Broke and desperate, the Garagusos gave up their dream home for a camper, but has life improved?
POLITICS: Will House Prices Decide the Election?
A new study has found that the cost of homes could sway voters when they cast their ballots
Jim Parsons
FRESH OFF HIS TONY NOMINATION FOR MOTHER PLAY, JIM PARSONS IS BACK on Broadway in Our Town. So, does he not like taking a break? \"Until [Big Bang Theory] wrapped in 2019, I did not really know what it was to take a break that was not only extended, but also uncertain.\"
'Frank's an Icon, and My Dad'
Moon Unit Zappa on navigating childhood as a rock star's daughter