Credit Scores Dip for First Time in Decade Due to Missed Payments and Rising Debt

• Credit scores declined for the first time in 10 years due to missed payments and rising debt • The average credit score fell from 718 to 717 according to FICO • Not making monthly payments on time negatively impacts your credit score • Paying less than your full statement balance leads to interest and a lower score • High credit card utilization over 30% also reduces your credit score