The latest Charles River Associates analysis released on Monday showed that VantageScore credit score usage is up sharply by 55% year-over-year to a record 41.7 billion credit scores delivered in 2024.

That’s up from 26.9 billion in 2023, as lenders across credit products increased their use of VantageScore.

According to a news release, the annual third-party project measured credit score utilization across lending segments in the consumer credit scoring industry, and growth of VantageScore significantly outpaced the growth of overall credit usage in the United States for 2024.

Market segments covered in the analysis include automotive finance, mortgage providers, credit card issuers, banks, and credit unions, among others.

Researchers found VantageScore utilization in the credit card sector is up by more than 142% to 24.4 billion uses, driving the largest volume gains in any of the credit product categories.

Consumer websites, which include credit education and credit score display apps and websites, are up by 28% to nearly 9 billion uses over the same period, according to the analysis.

Researchers added that usage by telecommunications, utilities and rental screening organizations also increased dramatically.

“Our customers broadly accelerated their usage of VantageScore credit scores in 2024, resulting in record-breaking growth and the highest overall credit score volume in company history,” VantageScore president and CEO Silvio Tavares said in the news release.

“These results are a confirmation by lenders, fintechs and other customers that VantageScore is the credit score industry leader in growth, predictive power and innovation,” Tavares went on to say.

To learn more about VantageScore’s substantial growth in adoption over the past several years, visit https://vantagescore.com/why-vantagescore/market-adoption.