About Us  > Blog

Credit scores on the rise in the U.S.

by Prosper on 07/17/12

With the recession, Americans have seen some of the most astonishing and drastic shifts in our money markets. The nation’s individual credit scores have been no exception. According to Lisa Gerstner from Kiplinger Personal Finance Magazine, this change has not only evened out, but is on a slow, positive rise. Lisa Gerstner writes, “As we pulled out of the recession, the middle started to grow again. Now, about 18% of scores are in the highest range: 800 to 850”. Gerstner goes on to confirm that this is the highest we have seen since October, 2008, which was about 15%. You can find Gerstner’s complete article here.

Gerstner predicts that this is more than likely due to the fact that the recession forced people to focus on their finances more closely. As a result, they were able to build their credit scores, and increase their chances of receiving better rates down the line. Borrowers with a higher credit score are more likely to receive lower interest rates on personal loans, such as those provided through Prosper.com.

Increasing your credit score isn’t always the most straight forward process. Gerstner advises that borrowers stay current on bills, keep credit balances low relative to credit limits, and only take credit when they need it. But what else can borrowers do? Jessica Anderson, associate editor of Kiplinger Magazine demonstrates 6 things that borrowers should bear in mind in order to raise their credit scores and consequently lower their rates. Anderson covers these steps in her article, “6 Things to Know About Credit Scores

Leave a Comment

Prosper moderates all comments and will approve those that are directly relevant to the post. We do not publish comments that are spam, are offensive or appear to pass you off as another person.

(required) Email will not be published.

Comment Policy


To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word

One Response


posted in Borrowers,Featured,Personal Finance Education 1 comment »

Connect with us



Prosper Platform Surpasses $3 Billion in Loans, Closing Out Record First Quarter

By Prosper on 03/31/15   [ 0 ]

By: Aaron Vermut Today we are very excited to announce we have officially surpassed $3 billion in personal loans issued through the Prosper platform since inception. In April 2014, we announced that we crossed the $1 billion mark. It took us eight years to reach that milestone and it was huge achievement for our company. [...]

Read More

Karate Academy Improves Student Training with New Equipment

By Prosper on 03/4/15   [ 0 ]

Posted by Bill Walker Note: This post is based on a video submitted to our $2 Billion Strong Contest. To see more videos, visit our Facebook page. Kevin Johannes, a seventh degree black belt and owner of TASK Karate Academy, borrows through Prosper Loans because it offers him the best interest rates. But, that’s not [...]

Read More

Prosper Marketplace Partnership with Western Independent Bankers Expands Credit Opportunities for Small Banks and Their Customers

By Prosper on 02/26/15   [ 1 ]

We’re excited to announce today a partnership with Western Independent Bankers — a consortium of small community banks — that will give more banks the opportunity to offer credit to their customers, and more consumers access to affordable loans. Banks are under increasing pressure to deliver attractive interest rates for all consumers, and smaller banks [...]

Read More

« Older Entries

Monthly Archive

Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.