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Consumer credit utilization decreased to 51.6% down from the prior month, hitting a new four-year low.
Bankrate survey finds 50% of Americans who’ve applied for a loan or financial product since March 2022 have been denied.
30% of millennials and Gen Zers moved up credit tiers within the past two years, more than older consumers.
Q4 2023 American Bankers Association Index indicates a cautious economic outlook for both consumers and businesses.
Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.
In Q4 2022, originations fell 65% year over year, the largest decline since TransUnion began tracking it.
