March 2026 Consumer Pulse: The Latest Consumer Credit Trends
Highlights:
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Generational Credit Shift: Millennials have captured over 36% of U.S. debt, primarily driven by mortgage demand, which is catching them up to Gen X in total debt share.
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Debt and Delinquency Trends: Consumer debt growth is outpacing inflation, driven by mortgage and revolving debt, while delinquencies show a mixed pattern with auto and mortgage up year-over-year, and bankcard/private label declining.
The March Market Pulse webinar showcased insights from Equifax Senior Advisor Maria Urtubey around current consumer credit trends.
March 2026 Key Insights: Today’s Consumer Credit Trends
Through November 2025, private label continues to lag in a
rising originations environment.¹
As of January 2025, the increase in consumer debt is
outpacing inflation, driven by mortgage (including first mortgages,
HELOCs, and HELOANs) and revolving (including bankcard, private
label cards, and other revolving products) debt.²
There is a generational credit shift occuring. As of January
2026, Millennials have captured over 36% of U.S. debt, driven by a
surge in mortgage demand. Millennials have caught up to Gen X in
total U.S. debt share with housing being the biggest driver of this
growth. Additionally, Gen Z continues to flow into the credit
universe.²
Rising credit limits drive higher home equity utilization,
but bankcard utilization holds steady.²
Delinquencies are mixed. Auto and mortgage delinquencies are
up year-over-year, while bankcard, private label, and personal
delinquencies decline.²
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Find our monthly Small Business Insights, National Consumer Credit Trends reports, the Market Pulse podcast, and more at our Market Pulse hub.
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Sources:
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Equifax US National Consumer Credit Trends Originations Report from February 2026 - Data through November 2025
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Equifax US National Consumer Credit Trends Portfolio Report from February 2026 - Data as of January 2026
(c) Equifax Inc. 2025. All Rights Reserved. The statistics provided herein are for informational and illustrative purposes only and shall not be used for any other purpose.
*The opinions, estimates, and forecasts presented herein are for general information use only. This material is based upon information that we consider to be reliable, but we do not represent that it is accurate or complete. No person should consider distribution of this material as making any representation or warranty with respect to such material and should not rely upon it as such. Equifax does not assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice. The opinions, estimates, forecasts, and other views published herein represent the views of the presenters as of the date indicated and do not necessarily represent the views of Equifax or its management.
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