WalletHub: Your Credit Score Could Improve This Weekend

Three credit bureaus -- TransUnion, Equifax and Experian -- will all implement a set of policy changes that will have a major impact on consumers' credit scores and borrowing capabilities.

The three credit bureaus anticipate that by requiring additional information and more frequent updates, all civil judgments and at least half of all tax liens will be removed from consumers' credit reports.

WalletHub released some key stats about the scope of the changes.

  • 6% to 9% of Americans with a credit report (~12-20 million people) will see their credit score improve.
  • The average person’s credit score will rise by 10 points. Most people can expect an increase of 20 points or less.
  • People with credit scores from 351 to 500 are most likely to see their credit scores rise (30%+ chance).
  • People with scores above 600 have a less than 2% chance of seeing their scores rise as a result of these changes.

For more information, click here.

(This story was originally published on June 29, 2017)


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