VantageScore CreditGauge™ November 2023: Consumer Financial Stress Reflected in Higher Delinquencies, Holiday Spending "Credit Hangover" Increasingly Likely
For the fifth consecutive month, the average VantageScore credit score held steady at 701.
- For the fifth consecutive month, the average VantageScore credit score held steady at 701.
- While overall credit health has remained relatively strong, many lower VantageScore credit tier consumers are increasingly financially stretched at year-end, with millions relying on personal loans or asking lenders for higher credit card limits to cover expenses and holiday spending.
- Increased reliance on these higher interest rate accounts raises the concern that some may face increased pressure to make their monthly payments in subsequent months.
- VantageScore released its November 2023 CreditGauge, a monthly analysis highlighting the health of U.S. consumer credit.