National Average VantageScore® Credit Score Stays Flat at 697 While Delinquencies Rise Modestly for All Consumer Loan Types

San Francisco, CA., October 28, 2022 – Consumer credit industry stakeholders need timely data insights and analysis in order to inform decisions and strategies, a function that becomes even more challenging as the macroeconomic climate becomes increasingly volatile.

Recognizing this need and delivering on our commitment to transparency, VantageScore has launched CreditGauge, a downloadable report (PDF) supplemented with a series of interactive tools that examine both broad consumer credit health, as well as key credit behaviors that help determine risk. CreditGauge will be provided as an open-source tool and be available without cost at VantageScore.com. 

CreditGauge provides critical insights including the national average VantageScore credit score, as well as key consumer credit metrics that underpin the VantageScore credit scoring model such as delinquencies, balance-to-loan ratios, and new account openings. Consumer credit trends are provided at the national level, and by main loan types (e.g. general purpose credit cards, also known as bank cards; personal installment loans; auto loans and leases; and first mortgages). 

Among the key findings from the most recent CreditGauge analysis that reflect September consumer credit behaviors include:

• SCORES FLATTENING: The national average VantageScore 4.0 credit score was 697 in September, which remains historically high, but leveling in the past months. As inflation persists, consumers continue to spend and are increasingly adding to their overall debt levels.
• KEEPING AN EYE ON DELINQUENCIES: Across all product types and all delinquency stages, rates rose when comparing September 2022 to September 2021, though still remaining at historical lows.
• INFLATIONARY IMPACT: As inflation takes hold, consumers are leveraging credit to make ends meet. The average credit card utilization rate has risen 2.6% year-over-year, with balances increasing as well.

CreditGauge will be provided both as a monthly report to industry stakeholders, as well as a series of interactive tools at VantageScore.com. Stakeholders can use the tools to execute additional queries on credit metrics and compare current levels to a pre-pandemic timeframe (starting with January 2020). CreditGauge represents the views and opinions of VantageScore and does not necessarily reflect or represent the views and opinions of its affiliates and owners including the Nationwide Credit Reporting Agencies (NCRAs), Equifax, Experian, and TransUnion.

CreditGauge will be updated and released publicly through VantageScore.com during the 3rd week of every month. 

About VantageScore

VantageScore develops consumer credit scoring models that combine the need for both financial inclusivity and dependable predictiveness across all scoring ranges. Known as an industry thought leader, the company’s most recent models score approximately 96 percent of all adults 18 and older – including 37 million more people than conventional models – without sacrificing safety and soundness. As a result, lenders using VantageScore can extend credit to those who have been historically marginalized, including minority and lower-to-middle income Americans. VantageScore credit scores are used by thousands of lenders, landlords, utility companies, telecom companies, and many others to determine creditworthiness. Additionally, tens of millions of consumers rely on free access to their VantageScore credit scores to monitor their own creditworthiness.

VantageScore was launched in 2006 and is owned by America’s three national credit reporting companies (CRCs) – Equifax, Experian, and TransUnion. Using a patent-protected tri-bureau methodology, VantageScore delivers time-tested, innovative, and more consistent credit scoring models across all three CRCs.