Low-income consumer delinquencies rose 11% in October, the highest among income groups, marking a notable shift from earlier in the year, when mid- and higher-income households were leading delinquency increases. The K-shaped economy is clearly evident in the credit data.

In this episode, Dr. Rikard Bandebo, Chief Economist and Chief Strategy Officer at VantageScore, traces how the delinquency story has shifted across income groups since the pandemic and why affordability, not income, is the real driver.

In the full episode, Rikard covers:
➡️ Why lower-income delinquencies are now back at levels not seen since 2010 for credit cards and auto loans
➡️ How record rent increases and rising car ownership costs have squeezed household budgets far beyond income growth
➡️ What does the unusual mid-2023 to mid-2025 period, when higher-income delinquencies briefly outpaced lower-income, tell us about the broader credit cycle

Plus, VantageScore's Susan Fahy and Atif Mirza break down the latest CreditGauge™ data for October 2025, including credit balances reaching an all-time high, mortgage delinquencies in the 60 to 89-day category rising 12.1% year-over-year, and the average VantageScore holding steady at 701.

Download the full CreditGauge™ analysis at vantagescore.com/lenders/credit-gauge.

Updated monthly, VantageScore’s CreditGauge LIVE features the latest newsmakers and insights into consumer credit health.

Download the full CreditGauge analysis for free at vantagescore.com/lenders/credit-gauge.