Surprising Trends About Consumer Debt

consumer debt

New findings from the latest Equifax® National Consumer Credit Trends Report include:

  • Mortgage debt now makes up a smaller portion of total consumer debt
  • The makeup of non-mortgage debt has changed: student debt has soared, while credit card debt has decreased

More Highlights from Recent Press Coverage

Why store-branded credit card delinquencies hit 7-year high | USA Today | May 23, 2018

  • Delinquency rates on store-branded credit cards have reached a seven-year high, according to credit bureau Equifax. This may signal broader troubles for household debt down the road…

People Aren’t Paying Their Bills at Bankrupt Stores | Bloomberg | May 23, 2018

  • When retailers shutter their stores, credit card debt lives on. Not everyone seems to know that. An increasing number of customers aren’t paying balances on credit cards linked to bankrupt retailers…

Private Label Retail Credit Card Delinquencies At Highest Rate Since 2011 | Pymnts.com | May 23, 2018

  • The severe delinquency rate on private label retail credit cards jumped 57 basis points from March of last year and stands at 4.65 percent…

The Changing Makeup of Consumer Debt | DS News | May 23, 2018

  • Mortgage debt makes up a noticeably smaller share of total consumer debt than it did a decade ago, according to the latest Equifax National Consumer Credit Trends Report…

For more information from the study, download the recent webinar featuring Equifax Chief Economist, Amy Crews Cutts and Cristian deRitis, Senior Director, Moody’s Analytics, or contact us.

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