July 2025 U.S. National Consumer Credit Trends Report

AS OF JULY 2025, THE MONTHLY EQUIFAX CONSUMER CREDIT TRENDS REPORT showed that total U.S. consumer debt was $17.94 trillion, up 2.5% from July 2024. Mortgage debt, including home equity loans, accounted for $13.27 trillion, a 74.0% share of total debt, while non-mortgage consumer debt totaled $4.67 trillion, with 32.1% of non-mortgage consumer debt attributable to auto loans and leases and 36.8% attributable to student loans.

Outstanding balances on auto loans and leases increased 1.4% from July 2024, to $1.67 trillion in July 2025.

Outstanding balances on U.S. bankcards increased to $1.07 trillion in July 2025, up 4.3% from July 2024. Average bankcard utilization stood at 20.8%, which is a slight decrease from 21.2% in July 2024.

Consumer Credit Observations:

• As of July 2025, total U.S. consumer debt was $17.94 trillion dollars, up 2.5% from July 2024.

• Mortgage debt, including home equity loans, accounted for $13.27 trillion in July 2025, making up 74.0% of total U.S. consumer debt.

  • First mortgages were 95.3% of mortgage debt outstanding.

  • Home Equity Lines of Credit (HELOCs) were 3.0% of mortgage debt outstanding.

• Non-mortgage debt totaled $4.65 trillion in July 2025 and broke down into:

  • 35.9% from auto loans and leases,

  • 28.5% from student loans,

  • 24.2% from credit card balances and

  • 11.4% from other products.

Auto Loans and Leases Observations:

• Total outstanding balances on auto loans and leases increased 1.4% from July 2024 to $1.67 trillion.

• The number of outstanding accounts in July 2025 was 87.0 million, which is comparable year-over-year.

• The severe balance delinquency (60+ days past due) rate in July 2025 was 1.51%, which is two basis points higher than July of last year.

Bankcard Portfolio Observations:

• Outstanding balances on bankcards increased 4.3% from July 2024 to $1.07 trillion.

• The number of outstanding accounts was 582.6 million in July 2025, a 5.6% increase from July 2024.

• The severe balance delinquency rate (60+ days past due) as of July 2025 was 2.76%. In July 2024, the rate was 2.91%.

• Average bankcard utilization for July 2025 was 20.8%, compared to 21.2% year over year.

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 quarter 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.