December 2025 U.S. National Consumer Credit Trends Report

AS OF DECEMBER 2025, THE MONTHLY EQUIFAX CONSUMER CREDIT TRENDS REPORT showed that total U.S. consumer debt was $18.20 trillion, up 3.7% from December 2024. Mortgage debt, including home equity loans, accounted for $13.46 trillion, a 74.0% share of total consumer debt, while non-mortgage consumer debt totaled $4.74 trillion, with 35.5% of non-mortgage consumer debt attributable to auto loans and leases, and 28.0% attributable to student loans.

Outstanding balances on auto loans and leases increased 1.0% from December 2024, to $1.685 trillion in December 2025.

Outstanding balances on U.S. bankcards increased to $1.12 trillion in December 2025, up 4.1% from December 2024. Average bankcard utilization stood at 21.2%, which is a slight decrease from 21.7% in December 2024.

Consumer Credit Observations:

• As of December 2025, total U.S. consumer debt was $18.20 trillion dollars, up 3.7% from December 2024.

• Mortgage debt, including home equity loans, accounted for $13.46 trillion in December 2025, making up 74.0% of total U.S. consumer debt.

  • First mortgages were 95.1% of mortgage debt outstanding.

  • Home Equity Lines of Credit (HELOCs) were 3.1% of mortgage debt outstanding.

• Non-mortgage debt totaled $4.74 trillion in December 2025 and broke down into:

  • 35.5% from auto loans and leases,

  • 28.0% from student loans,

  • 24.9% from credit card balances and

  • 11.6% from other products.

Auto Loans and Leases Observations:

• Total outstanding balances on auto loans and leases increased 1.0% from December 2024 to $1.685 trillion.

• The number of outstanding accounts in December 2025 was 86.8 million, a 0.8% decrease year-over-year.

• The severe balance delinquency (60+ days past due) rate in December 2025 was 1.61%, which is three basis points higher than December of last year.

Bankcard Portfolio Observations:

• Outstanding balances on bankcards increased 4.1% from December 2024 to $1.12 trillion.

• The number of outstanding accounts was 591.6 million in December 2025, a 4.4% increase from December 2024.

• The severe balance delinquency rate (60+ days past due) as of December 2025 was 3.03%. In December 2024, the rate was 3.16%.

• Average bankcard utilization for December 2025 was 21.2%, compared to 21.7% in December of 2024.

Equifax publishes monthly U.S. Consumer Credit Insights here - including information on private-label credit cards, consumer finance, student loans and credit originations. Additionally, Global Credit Trends from the first half of 2025 can be explored here.

(c) Equifax Inc. 2025. All Rights Reserved. The information presented herein is sourced from Equifax internal records and is to be used for general informational use only.