The higher your credit rating, the more likely you are to feel good about the current state of credit. That is a key takeaway from TransUnion’s Q3 2023 Quarterly Credit Industry Insights Report.
According to research from the Financial Conduct Authority, two-thirds of outstanding lending as of November 2016 was to consumers with credit scores in the top 30%; this shows little difference from two years prior as unsecured consumer lending grew at double-digit rates in 2016 and 2017; however data showed that borrowers are staying in debt longer. Source
While small businesses have been able to access credit during the current crisis, this is not the case for many...