VantageScore’s April 2024 CreditGauge analysis reflects improving U.S. consumer credit health. MarketWatch recently covered the most recent CreditGauge findings, which signaled that delinquencies began to decline in April as consumers continued to manage their finances despite the challenging economic headwinds that have coalesced at the start of the year.

While persistent high prices and interest rates are unquestionably putting pressure on lower-income Americans, this month’s data also shows that consumer finances — more broadly — remain strong, reflected in higher VantageScore credit scores, declining delinquencies, stable balances and an overall lower use of credit,” said Susan Fahy, EVP and Chief Digital Officer at VantageScore.

The CreditGauge April 2024 analysis noted a decline in delinquencies across all Days Past Due (DPD) categories compared to March 2024, though they remained still higher than March 2023.

In addition to the decline in delinquencies, for the first time in nearly a year, loan originations rose across all loan products (Credit Card, Personal Loan, Auto Loan and Mortgage) compared to March 2024. Consumers also “used less of their allotted credit limits and paid down their balances.”

In the big picture, the April numbers reflect improving credit health,” added Susan.

Read more here: MarketWatch