 TITLE: COVID-19: Credit Utilization Drops as Consumers Cut Spending CONTENT: Overall Credit Utilization Levels Down Since January\n----------------------------------------------------\nSince the onset of the pandemic, consumers have shifted their credit usage, resulting in plummeting utilization rates between January and May 2020. This is a major difference from this same period in 2019, when the utilization rate decreases were a third of those seen in 2020.\nSource: Experian\nSince credit utilization is the second most important aspect of credit scores, it's not surprising to see that average credit scores have gone up as utilization has fallen.\nSource: Experian END