2022 was a banner year for market adoption of VantageScore credit scores, particularly in the automotive sector.

Automotive News recently published an article highlighting VantageScore’s growing market adoption in auto financing. “Auto finance businesses ran 220 million VantageScore credit checks on car shoppers in 2022, a 13 percent growth in demand for the alternative credit score.”

The article references a recent research study conducted by Charles River Associates, a leading provider of economic, financial and management consulting services, found year-over-year growth of VantageScore across both financial and non-financial institutions, including a 46% increase in VantageScore credit score usage among banks, fintechs and other financial institutions, from 6 billion credit scores in 2021 to almost 9 billion in 2022. Non-financial institution usage likewise grew, up 18% year-over-year from almost 9 billion to more than 10 billion.

Read the Automotive News piece here: VantageScore used for more auto finance credit checks in 2022

To learn more about VantageScore’s 2022 market adoption, please visit: VantageScore® Credit Score Usage Up 30% in 2022