Equifax National Market Pulse Data Shows U.S. Consumer Debt Accelerating

While Delinquency Rates Have Begun to Ease, They are Still Elevated Relative to Pre-Pandemic Norms

ATLANTA, Feb. 24, 2026 /PRNewswire/ -- Equifax® (NYSE: EFX) has released its Market Pulse Fourth Quarter U.S. Consumer Credit Trends, which includes U.S. national consumer credit data and trends through December 2025 sourced from Equifax proprietary data. According to Equifax, the rate of increase for overall consumer debt accelerated in December 2025 compared to the same month in 2023 and 2024, with total U.S. consumer debt reaching $18.20 trillion by the end of 2025. In addition to consumer debt growth accelerating, a persistent K-shaped divide underscores a widening financial chasm between income brackets.

"Average subprime credit card utilization remained flat at 75.6% from quarter three to quarter four of 2025, despite rising prices, higher interest rates, and increased delinquencies," said Maria Urtubey, Market Pulse Advisor at Equifax. "However, topline improvements can mask financial stress in certain groups. While higher-income consumers continue to benefit from asset inflation and expanded credit availability, many others remain under pressure, and the broader economic picture still shows uneven financial health. This divergence reinforces the K-shaped economic divide observed in prior quarters and underscores the need to evaluate multiple factors when gauging the financial health of American consumers."

In the fourth quarter of 2025, Equifax data shows that delinquency rates across several major lending products have begun to ease from more recent highs, though they remain elevated relative to pre-pandemic norms. As of December 2025, 5.7% of consumers had at least one payment 60+ days past due (DPD)—down from a peak of 6.8% in the third quarter. Despite ongoing economic pressures including inflation, tariffs, and slower job growth, overall consumer financial health has remained relatively consistent.

Looking ahead, seasonal patterns are expected to support near-term credit performance. Delinquencies typically ease as tax refunds arrive and larger refunds could provide additional relief to pay down debt.

Key Insights

Month-Over-Month and Year-Over-Year Results

Equifax has been tracking U.S. National Consumer Credit Trends for more than 20 years. Monthly reports can be found on Equifax.com. These reports track originations, balances and delinquencies on U.S. consumer mortgages, auto loans and leases, student loans, bankcards and private label credit cards, and personal loans. To explore Equifax tools that deliver U.S. National Consumer Credit Trends data and key market metrics click here.

*To view the included graphic, click here.

ABOUT EQUIFAX INC. 

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com. 

FOR MORE INFORMATION:  Tiffany Smith for Equifax  [email protected] 

SOURCE Equifax Inc.