- Banks’ New Consumer Credit Activity Cools Modestly
- Mortgage Credit Delinquencies Rise Across All Delinquency Stages
- Early-Stage Delinquencies at Year-to-Date High, Nearing Pre-Pandemic Levels
SAN FRANCISCO — October 28, 2025 — New Credit Card and Auto Loan originations are declining after increases over the summer, according to the latest edition of CreditGauge™ by VantageScore. Month-over-month, new credit loans decreased across all credit products as banks appear to pull back on new lending. The average VantageScore 4.0 credit score remained stable at 701 in September.
Banks are reining in new lending, suggesting that banks are taking a more cautious posture after a strong summer and leading to originations softening across most credit products,” said Susan Fahy, EVP and Chief Digital Officer at VantageScore. “Early-stage delinquencies are near levels last seen before the COVID pandemic.
Watch CreditGauge LIVE for additional key insights from the September 2025 edition of CreditGauge that include:
NEW CREDIT COOLS MODESTLY AFTER A STRONG SUMMER: In September 2025, originations declined across all products month-over-month, led by Personal Loans, followed by Credit Cards, Auto Loans and Mortgages. Notably, new Auto Loans and Mortgages have remained relatively subdued since early 2025, likely constrained by high interest rates, affordability and macroeconomic headwinds.
MORTGAGE CREDIT DELINQUENCIES RISE ACROSS ALL DELINQUENCY STAGES: Mortgage credit delinquencies increased month-over-month and year-over-year across all stages of delinquency. The rise was most pronounced in late-stage (90-119 Days Past Due) accounts, reaching the highest level since January 2020 and marking the largest year-over-year relative increase among all credit products.
EARLY-STAGE DELINQUENCIES AT YEAR-TO-DATE HIGH, NEARING PRE-PANDEMIC LEVELS: Overall credit delinquencies edged higher in September, with 30-59 Days Past Due delinquencies rising to 1.13%, up slightly from 1.02% in August. These early-stage delinquencies are approaching the pre-pandemic threshold of 1.15% for the first time in five years.
CreditGauge is a monthly analysis highlighting the overall health of U.S. consumer credit. To download this month’s full CreditGauge report, visit the VantageScore website.
Follow VantageScore on LinkedIn and YouTube to watch CreditGauge LIVE, a monthly video series featuring our latest insights on consumer credit data and analysis.
About VantageScore CreditGauge™
CreditGauge is provided both as a monthly analysis to industry stakeholders as well as through a series of interactive tools at VantageScore.com, which also includes Inclusion360®, RiskRatio™ and MarketGain™. 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 solely represents the views and analysis of VantageScore and does not necessarily reflect or represent the views of the Nationwide Consumer Reporting Agencies (NCRAs) - Equifax, Experian, and TransUnion.
About VantageScore®
VantageScore is the fastest-growing credit scoring company in the U.S., and is known for the industry’s most innovative, predictive and inclusive credit score models. In 2024, usage of VantageScore increased by 55% to hit 42 billion credit scores. More than 3,700 institutions, including nine of the top 10 U.S. banks, use VantageScore credit scores and digital tools to provide consumer credit products or generate greater insights into consumer behavior. The VantageScore 4.0 credit scoring model scores 33 million more people than traditional models. With the FHFA allowing the immediate use of VantageScore 4.0 for Fannie Mae and Freddie Mac guaranteed mortgages, the company is also ushering in a new era for mortgage lending.
VantageScore is an independent joint venture company owned by Equifax, Experian and TransUnion.
