COSTA MESA, Calif.—The average credit limits for U.S. consumers have declined across all five credit score categories on a year-over-year basis, according to an analysis of Experian data by The Motley Fool.
The steepest declines were seen in the near prime, subprime, and deep subprime categories.
“This could signify that even with the U.S. economy modestly improving, lenders are still a bit gun shy about handing out credit to consumers with subpar credit scores,” stated The Motley Fool.
The analysis was based on Experian data from the first quarter of 2015. The average credit limits are below:
- Super prime (781-850): $9,543
- Prime (661-780): $5,209
- Near prime (601-660): $2,277
- Subprime (500-600): $966
- Deep subprime (300-499): $509