Michael Busick, a Charlotte (N.C.) math teacher, says his credit union "was shocked" to discover his credit score was 812 of a possible 850 when he applied for a $19,500 new-car loan. The loan officer told him he rarely saw scores so close to perfect, says Busick, 33, who added he pays bills on time and doesn't overextend. He got the loan. The average U.S. credit score-a predictor of the likelihood lenders will be paid back-rose to 696 in May, the highest in at least four years, according to credit reporting bureau Equifax. Delinquencies on consumer loans have dropped 30 percent in two years, according to Federal Reserve data.
展开▼
