May 23, 2019

How Americans' credit has changed since 2008

Reproduced from Experian; Table: Axios Visuals

Credit monitoring agency Experian this week released its report on the state of Americans' credit. The company examined today's consumer credit behaviors and compared them to those in 2008.

What to watch: Younger people have recently had increasing delinquency issues and are taking on credit cards and borrowing more, but Experian points out that it's older people who are leading some concerning trends.

  • While those aged 72 and older have higher credit scores than any other group, "they saw the most significant drop in average credit scores, with a decrease of 40 points (772 in 2008 compared with 732 in 2018).
  • "This group also had the most significant increase in credit card balances, up $767 in 2018 to $4,703 (compared with $3,936 in 2008). They also experienced the largest increase in mortgage debt, up $29,602 for a total of $160,735 in 2018 (compared with $131,133 in 2008)."

Go deeper: The Fed stopped raising rates, but credit card companies haven't

Go deeper

Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 75,465 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

Go deeperArrowUpdated 6 hours ago - Health

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.