In spite of a record-high jobless rate and grim prospects for an economic turnaround, U.S. consumers are shedding debt and spending more responsibly. The end result for many Americans is a higher credit score, according to Dr. Robert Hartwig, president of the Insurance Information Institute (I.I.I.), who testified before the National Association of Insurance Commissioners (NAIC).
In fact, testified Hartwig, 43% of U.S. consumers increased their credit score earlier this year, while only 27% saw a decrease, and 30% remained unchanged. Hartwig quoted San Francisco-based a March 2009 Credit Karma report that was based on a sampling of tens of thousands of U.S. consumers.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access