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”