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The Consumer Financial Protection Bureau (CFPB) has just issued its latest report to Congress on credit scores sold to consumers versus credit scores sold to creditors. The 42-page report, which you can find here, provides an analysis of different scoring models, comparing credit scores sold to creditors and those sold to consumers by the national credit reporting agencies, including Experian. Of particular interest, and of reassurance to consumers, are some high-level conclusions from the report:

In our busy lives, it is easy to miss paying a bill. However, your lenders won’t accept excuses for why they you didn’t pay them as you agreed to do. For example, your bankcard company cannot make excuses for being late in paying the merchants where you made your purchases. When you don’t pay, they still have to pay on your behalf. Missed payments can have a severe impact on your credit scores. And lower credit scores will often penalize you with higher interest rates – which can end up costing you tens-of-thousands of dollars throughout your life. So here are five strategies to help you build the best credit scores . . .

Everyone seems to be keeping a closer eye on their finances these days and more people are becoming aware of how important it is to know what your credit report looks like. In the recently released Experian 2012 State of Credit report, we found that the national average credit score is currently 750, which is up one point from 2011. We also crunched some numbers in more than 100 cities throughout the country and ranked the top 10 and bottom 10 cities according to credit score.