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VantageScore CreditGauge™ January 2025: Credit Delinquencies Hit Five-Year Highs as Late Payments Reached Pre-Pandemic Levels

By Prathapan - Feb 27, 2025, 11:41 AM ET
VantageScore CreditGauge™ January 2025: Credit Delinquencies Hit Five-Year Highs as Late Payments Reached Pre-Pandemic Levels
Overall Credit Delinquencies Reached 5 Year High - January 2025 - VantageScore CreditGauge

VantageScore CreditGauge™ January 2025: Credit Delinquencies Hit Five-Year Highs as Late Payments Reached Pre-Pandemic Levels

SAN FRANCISCO, Feb. 27, 2025 /PRNewswire/ -- Consumer credit delinquencies rose to the highest levels in five years according to the January 2025 edition of CreditGauge from VantageScore, a leading national credit-scoring company. In January, the average VantageScore 4.0 credit score remained at 702. Average credit account balances rose by more than $1,000 compared to December 2024. This increase is the most significant month-over-month growth in nearly three years, bringing balances to a five-year high.

"The combination of rising mid-to-late-stage credit delinquencies and rising credit balances suggests a growing debt burden that some consumers are increasingly struggling to manage," said Susan Fahy, Executive Vice President and Chief Digital Officer at VantageScore. "This is both a short- and long-term trend. Later-stage delinquencies are key because they are an indication that late payments will likely not go away anytime soon."

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Key insights for the January 2025 edition of CreditGauge include:

AUTO LOAN DELINQUENCIES ROSE: Higher borrowing costs and post-holiday spending likely drove the notable increase in Auto Loan delinquencies in January. Overall mid- and late-term delinquencies rose to the highest levels since January 2020, indicating growing financial strain among borrowers already behind on payments.

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