May 2026 U.S. National Consumer Credit Trends Report

Highlights: 

• As of May 2026, total U.S. consumer debt climbed to $18.23 trillion — a 2.4% year-over-year increase — with mortgage debt accounting for the vast majority (74.2%) of that total.

• Non-mortgage consumer debt reached $4.7 trillion, with auto loans and leases comprising 36.4% and bankcard balances rising 3.7% to $1.1 trillion, signaling continued reliance on credit products.

As of May 2026, the monthly Equifax Consumer Credit Trends Report showed that total U.S. consumer debt was $18.23 trillion, up 2.4% from May 2025. Mortgage debt, including home equity loans, accounted for $13.52 trillion, a 74.2% share of total consumer debt, while non-mortgage consumer debt totaled $4.7 trillion, with 36.4% of non-mortgage consumer debt attributable to auto loans and leases, and 27.5% attributable to student loans.

Outstanding balances on auto loans and leases increased 2.4% from May 2025, to $1.71 trillion in May 2026.

Outstanding balances on U.S. bankcards increased versus the prior month to $1.1 trillion in May 2026, up 3.7% from May 2025. Average bankcard utilization stood at 20.3%, which is a slight decrease from 20.7% in May 2025.

Consumer Credit Observations: 

• As of May 2026, total U.S. consumer debt was $18.23 trillion dollars, up 2.4% from May 2025.

• Mortgage debt, including home equity loans, accounted for $13.52 trillion, making up 74.2% of total U.S. consumer debt.

• First mortgages were 95.0% of mortgage debt outstanding.

• Home Equity Lines of Credit (HELOCs) were 3.3% of mortgage debt outstanding.

• Non-mortgage debt totaled $4.7 trillion in May 2026 and broke down into:

  • 36.4% from auto loans and leases,

  • 27.5% from student loans,

  • 24.4% from credit card balances and

  • 11.7% from other products.

Auto Loans and Leases Observations: 

• Total outstanding balances on auto loans and leases increased 2.4% from May 2025 to $1.71 trillion.

• The number of outstanding accounts in May 2026 was 87.4 million, a 0.3% increase year-over-year.

• The severe balance delinquency (60+ days past due) rate in May 2026 was 1.37%, which is comparable to May of last year.

Bankcard Portfolio Observations: 

• Outstanding balances on bankcards increased 3.7% from May 2025 to $1.1 trillion.

• The number of outstanding accounts was 594.4 million in May 2026, a 2.5% increase from May 2025.

• The severe balance delinquency rate (60+ days past due) as of May 2026 was 2.8%, which is a .01% decrease from May 2025 (2.81%).

• Average bankcard utilization for April 2026 was 20.3%, compared to 20.7% in May of 2025.

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

(c) Equifax Inc. 2026. All Rights Reserved. The information presented herein is sourced from Equifax internal records and is to be used for general informational use only.