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Credit Scores Show US Economy Is Recovering From Great Recession

Some 6 million Americans will have bankruptcies removed from their credit scores within the next half decade, according to a report by Barclay’s PLC.

Americans credit scores notched a record high this spring in conjunction with a decline in the share of US consumers that are deemed to be high-risk borrower, The Wall Street Journal reports.

The average credit score hit 700 in April, marking the highest national credit score average since 2005. The number of consumers deemed to be the riskiest borrowers–those with a credit score below 600–comprise just 20 percent of borrowers, down from 25.5 percent in 2010.

Rising credit scores and improved risk pools for lenders are likely reflections of the improving state of the US economy, and a sign that consumers are steadily recovering from the housing crisis of 2007.

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