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Consumers' credit scores remained stable for the fifth consecutive month, according to a report released today by Credit Karma Inc., a San Francisco-based company whose Web site tracks credit scores. Nationally, 37% of consumer credit scores increased in August compared with 37% that did in July, according to data from approximately 55,000 Credit Karma user scores. Some 34% of consumers' credit scores remained the same in August compared with 35% that did in July. Also, 29% of consumers' credit scores decreased in August compared with 28% that did in July. The average consumer had $6,775 in credit card debt last month, down 0.6% from $6,818 in July. The average consumer credit score remained unchanged month to month at 673. Chicago led all metropolitan areas with the highest percentage of increasing credit scores in August at 40%. Some 29% of Chicago consumers' credit scores decreased, and 31% stayed the same. Denver had the highest percentage of credit scores that decreased in August at 34%. Some 35% of Denver consumers' credit scores increased, and 31% stayed the same.
