Critical Shifts:
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Core metrics show high stability: The average VantageScore held steady at 701 with overall consumer balances remaining virtually flat month-over-month at $107,500, while the balance-to-loan ratio fell slightly to 49.50%.
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Underlying credit stress is creeping up: Early-stage delinquencies (30–59 days past due) rose to 1.15%, coinciding with a two-year structural shift where the share of Prime borrowers shrank while Near Prime and Subprime segments expanded.
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U.S. consumer credit remained relatively stable in September, with the average VantageScore 4.0 credit score holding at 701 and overall balances largely unchanged, according to VantageScore’s latest CreditGauge report.
The report also found a slight increase in early-stage delinquencies, suggesting some borrowers are beginning to feel payment pressure even as broader credit measures remain steady.
The average consumer balance was approximately $107,500 in September, nearly unchanged from August and $990 higher than a year earlier. The overall balance-to-loan ratio declined to 49.50%, from 49.60% in August and 50.79% in September 2025.
Early-stage delinquencies, covering payments 30 to 59 days past due, rose month over month to 1.15%. That was two basis points above the year-earlier level. Late-stage delinquencies, covering payments 90 to 119 days past due, remained at 0.23%, just one basis point higher than in September 2025.
Credit scores have also remained stable, although the mix of borrowers across credit tiers has shifted slightly over the past two years. The share of consumers classified as Prime declined from 33.3% to 32.5%, while Near Prime increased from 17.4% to 18.0% and Subprime rose from 18.4% to 18.7%.
“Even as early delinquencies remain an area to watch, consumers appear to be navigating this economic environment,” said Atif Mirza, executive vice president and chief digital and insights officer at VantageScore.
For auto dealers, the figures offer a mixed picture: overall credit measures remain steady, but the uptick in early missed payments bears watching as borrowers manage vehicle payments alongside other household expenses.
The report reflects VantageScore’s credit data for September 2026.
