coronavirus lockdown as borrowers focused on reducing the amounts they owe, according to analysis by a credit checking company.
Experian customers had an average balance across all credit accounts, excluding mortgages, of £9,681 in June, compared with £11,615 when the lockdown started at the end of March.
It said the findings suggest some borrowers took the opportunity to use savings made by reduced spending to get their finances in order and improve their credit score.The average length of time people held a credit account was another common positive factor influencing scores in June.
Some 41 per cent of Experian CreditExpert customers had mature credit accounts that have been held on average for 34 months or more, demonstrating a proven.
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