Why your credit score is so important as interest rates rise

The national average credit score sits at an all-time high of 716, unchanged from a year ago, according to a report from FICO, developer of one of the scores most widely used by lenders.

However, this marks the first time since the Great Recession that scores did not improve year over year, the report found. That’s in part due to a small uptick in missed payments, elevated consumer debt levels and an increase in the number of consumers opening new credit cards or new lines of credit.

“These moderate changes toward more risky behaviors have contributed to the leveling off of higher average FICO Scores,” according to the report.

FICO scores range from 300 to 850. A good score generally is…