Share of Americans with Credit File, Credit Score is Back Over 90%

The share of Americans’ with a credit file and corresponding score is back over 90 percent, but not quite to its pre-crisis level, the Federal Reserve Bank of New York reports as part of its new interactive series of maps on U.S. “credit behavior.”
The New York Fed also sheds new light on credit availability (percent of consumers with a credit card or a home equity line of credit) and credit quality (percent of consumers with a payment history that are current on all credit obligations for each of the past four quarters).

“These indicators of credit behavior are then used to assess each community’s ability to access credit and its credit stress level,” the N.Y. Fed states. “The information provided here may be used by community leaders for developing policy priorities, assessing promising actions, and tracking the impacts of programs.”
The “credit economy” overall — defined as the percent of adults with a credit file and a credit score — shrunk between 2007 (96 percent) and 2012 (89.1 percent). But it is finally coming back — it was at 92.5 percent in 2014).
However, available revolving credit (credit cards and home equity lines of credit) have yet to return to pre-crisis levels. Available credit nationally was at 72.8 percent in 2005. By the end of 2014, it was at 67.9 percent.
Credit quality, though, has surpassed its 2005 level, when 76.3 percent of Americans were current on all credit obligations for each of the past four quarters. By the end of last year, that percentage was at 79.2 percent.
See the map image below. Here’s the New York Fed’s interactive “Community Credit” page.
Credit community chart

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