Access to and use of consumer credit is growing, according to research newly compiled by the Federal Reserve Bank of New York. Credit “inclusion” — measured by the percentage of residents with a credit file and credit score — edged up to 89.2 percent in 2015 from 89 percent in 2014. Those with access to revolving credit rose by 1.4 points to 69.7 percent.
The study also tracked improvements in healthy credit behaviors. The share of the population using less than 30 percent of their overall credit line capacity rose 0.8 points to 37.9 percent, and the percentage of on-time payers grew 0.4 points to 77.7 percent. The share with a prime credit score rose 0.8 points to 49.9 percent. The share of good payment histories and consistently delinquent payments were unchanged.
The New York Fed’s website includes a data visualization allowing users to compare metrics across individual states and in smaller jurisdictions of the New York Fed’s district.