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The Effects of Credit Score Migration on Subprime Auto Loan and Credit Card Delinquencies

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Abstract

In the early stages of the pandemic, income support and forbearance programs led consumer loan delinquency rates to fall to near-record lows for borrowers across the credit score distribution. Since the second half of 2021, however, delinquency rates have risen, and by 2023:Q3, overall rates for auto and credit card loans had risen above their pre-pandemic levels.

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  • John C. Driscoll & Jessica N. Flagg & Bradley Katcher & Kamila Sommer, 2024. "The Effects of Credit Score Migration on Subprime Auto Loan and Credit Card Delinquencies," FEDS Notes 2024-01-12, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2024-01-12
    DOI: 10.17016/2380-7172.3419
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