A recent study by VantageScore Solutions, LLC analyzed if consumers would continue to be creditworthy over time. Highlights about consumer credit score migration over time include:
- Over 3 months, 49% of consumers experienced a credit score improvement averaging 19 points, and 30% experienced a score decrease averaging 24 points
- At 12 months, 51% of consumers had credit score increases averaging 27 points, while 38% had their scores decline by an average of 34 points
- 6.4% of the total population would have received the opposite credit decision because of score migration if they had been reviewed three months later
Lenders looking to enhance credit strategies may benefit from using quarterly or monthly score trends for credit approval rather than a conventional, single-point-in-time credit score.
