Detailed text transcripts for TV channel - CNN - 20100712:14:43:00
Aapparently many people have lower credit scores. alison kosik has more. how bad is it? >> it's not good. for millions of people, their credit scores are falling. 25% of people have a credit score of 599 or below, and these are scores as reported by ap, and lenders use them to figure out what kind of loan you are going to get. the higher the score, the better the loan. fico scores go up to 850, and 599 or below is a red flag for lenders and means you are considered a risk. as you know, lenders are risk averse these days, thr standards for handing out loans are tougher than they used to be. his...
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