GITNUXREPORT 2026

Consumer Lending Industry Statistics

The consumer lending industry is growing rapidly but faces rising debt and delinquencies.

Written by Alexander Schmidt·Fact-checked by Min-ji Park

Industry Analyst covering technology, SaaS, and digital transformation trends.

Published Feb 13, 2026·Last verified Feb 13, 2026·Next review: Aug 2026

How We Build This Report

Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Statistics that could not be independently verified are excluded regardless of how widely cited they are elsewhere.

Our process →

Statistic 1

New U.S. auto loan originations totaled $168 billion in Q1 2024, down 1.2% YoY due to higher rates.

Statistic 2

Average new auto loan amount in U.S. reached $40,300 in 2023, up 2.8% from 2022.

Statistic 3

U.S. auto loan delinquency rate (60+ days) climbed to 3.1% in Q2 2024 from 2.4% in 2023.

Statistic 4

Total U.S. auto debt outstanding hit $1.61 trillion in Q1 2024, a record high.

Statistic 5

85% of new vehicle purchases in U.S. were financed in 2023, with average term 69 months.

Statistic 6

Used auto loan originations in U.S. fell 5% to $110 billion in Q4 2023.

Statistic 7

Average used auto loan interest rate hit 11.4% in 2023 for prime borrowers.

Statistic 8

Subprime auto loans comprised 20% of U.S. originations in 2023, totaling $42 billion.

Statistic 9

EV auto financing grew 40% YoY to $25 billion in U.S. 2023.

Statistic 10

Average monthly auto loan payment rose to $742 in 2023, up 7% YoY.

Statistic 11

U.S. auto loan balances for millennials averaged $22,000 in 2023.

Statistic 12

Refinanced auto loans dropped 15% in volume to $50 billion in U.S. 2023 due to rate hikes.

Statistic 13

Lease financing share of new autos increased to 32% in U.S. 2023.

Statistic 14

U.S. new auto loan rates averaged 7.18% for 60-month terms Q4 2023.

Statistic 15

Total auto loan delinquencies (30+ days) 4.1 million loans Q1 2024.

Statistic 16

Average auto loan term extended to 70 months for new cars in 2023.

Statistic 17

Used car loan balances $500 billion outstanding U.S. Q3 2023.

Statistic 18

Auto loan approval rates fell to 72% for subprime in 2023.

Statistic 19

Commercial bank auto loan share 60% of U.S. market 2023.

Statistic 20

EV auto loan originations $30 billion, average $45,000 loan size 2023.

Statistic 21

Auto lease delinquencies at 2.1% in U.S. Q4 2023.

Statistic 22

Gen X holds 35% of total U.S. auto debt $565 billion 2023.

Statistic 23

Auto loan refinances averaged 10% of originations 2023.

Statistic 24

U.S. credit card lending balances grew 9.1% YoY to $1.08 trillion in Q3 2023.

Statistic 25

Average U.S. credit card interest rate reached 21.47% APR in Q4 2023, the highest since 1985.

Statistic 26

45% of U.S. credit card users carried a balance over $1,000 in 2023, totaling $430 billion in revolving debt.

Statistic 27

Credit card originations in the U.S. increased 7.2% to 192 million accounts in 2023.

Statistic 28

U.S. credit card delinquency rate (30+ days) rose to 3.2% in Q4 2023 from 2.8% prior year.

Statistic 29

Gen Z credit card adoption jumped 18% in 2023, with average balance of $2,500 per holder.

Statistic 30

Rewards credit cards held 55% market share of new U.S. issuances in 2023, driving $150 billion in spending.

Statistic 31

U.S. credit card payment fees generated $130 billion for issuers in 2023, up 10% YoY.

Statistic 32

Subprime credit card lending grew 12% in balances to $45 billion in U.S. 2023.

Statistic 33

Average U.S. household has 3.84 credit cards with total limits averaging $28,000 in 2023.

Statistic 34

U.S. credit card fraud losses reached $12.6 billion in 2023, a 15% increase YoY.

Statistic 35

28% of U.S. credit card holders maxed out cards in 2023 due to inflation.

Statistic 36

Credit card utilization rate in U.S. averaged 25.4% in Q4 2023, up from 24.1% in 2022.

Statistic 37

U.S. buy now pay later (BNPL) linked to credit cards hit $18 billion in volume 2023.

Statistic 38

Prime credit card accounts grew 4.5% to 180 million in U.S. 2023.

Statistic 39

U.S. credit card new account growth slowed to 2.1% in 2023.

Statistic 40

Average credit card limit increased to $13,000 per U.S. cardholder in 2023.

Statistic 41

Store credit cards saw 5% decline in usage, balances $50 billion 2023.

Statistic 42

U.S. credit card late payments (60+ days) up 30% to 10 million accounts 2023.

Statistic 43

Cash advance usage on credit cards rose 12% to $15 billion in 2023.

Statistic 44

Co-branded credit cards drove 25% of rewards spending $300 billion 2023.

Statistic 45

Credit card APR spread widened to 16% between prime/subprime in 2023.

Statistic 46

22% of U.S. adults have 6+ credit cards in 2023.

Statistic 47

Balance transfer credit card volume $80 billion in U.S. 2023.

Statistic 48

Credit card issuer profits from interest $105 billion in U.S. 2023.

Statistic 49

U.S. consumer loan serious delinquency (90+ days) rate was 1.6% in Q1 2024.

Statistic 50

Credit card serious delinquency rate hit 6.4% in Q1 2024, highest since 2012.

Statistic 51

Auto loan serious delinquency rate rose to 3.2% in Q1 2024 from 2.6% year ago.

Statistic 52

Overall consumer credit charge-off rate for banks was 4.8% in Q1 2024.

Statistic 53

Subprime borrower delinquency rates in consumer lending averaged 9.5% in 2023.

Statistic 54

U.S. consumer loan net charge-offs increased 25% to $45 billion in 2023.

Statistic 55

Personal loan 30-day delinquency rate climbed to 4.1% in Q4 2023.

Statistic 56

VantageScore 3.0 average dropped to 715 in Q1 2024 amid rising delinquencies.

Statistic 57

11.5% of consumers opened new credit accounts in past year as of 2023, correlating with higher risk.

Statistic 58

Mortgage serious delinquency steady at 0.6%, but consumer loans at 3.2% in Q1 2024.

Statistic 59

BNPL delinquency rates averaged 7.8% for U.S. consumers in 2023.

Statistic 60

Consumer credit risk index rose 15% in 2023 per FICO scores under 660.

Statistic 61

Bank net charge-offs on credit cards hit 4.5% in Q4 2023.

Statistic 62

Auto loan charge-offs reached 1.2% annualized in Q1 2024.

Statistic 63

Student loan delinquencies (consumer subset) at 7.4% transition rate in 2023.

Statistic 64

Consumer credit hardship rates up 20% in 2023 surveys.

Statistic 65

FICO score distribution: 30% below 700 facing higher delinquency risk 2023.

Statistic 66

Bank consumer loan provisions for losses $60 billion in 2023.

Statistic 67

Early delinquency bucket (1-30 days) 2.5% for consumer loans Q1 2024.

Statistic 68

Non-prime consumer credit risk premium 8% over prime 2023.

Statistic 69

Consumer loan forbearance requests down 40% but risks persist 2023.

Statistic 70

Credit bureau disputes related to delinquencies up 15% 2023.

Statistic 71

Regional variations: South U.S. delinquency 4.2% vs national 3.1% 2023.

Statistic 72

In 2023, the U.S. consumer lending market size reached $4.9 trillion, marking a 5.2% year-over-year growth driven by rising demand for personal and auto loans amid inflation pressures.

Statistic 73

Global consumer lending market was valued at $2.8 trillion in 2022 and is projected to grow at a CAGR of 7.1% from 2023 to 2030 due to digital lending platforms expansion.

Statistic 74

U.S. revolving consumer credit (primarily credit cards) outstanding totaled $1.13 trillion as of Q4 2023, up 8.3% from the previous year.

Statistic 75

Non-revolving consumer credit (auto, student, personal loans) in the U.S. stood at $3.36 trillion in Q2 2024, reflecting a 3.1% annual increase.

Statistic 76

The fintech consumer lending segment grew 15% YoY in 2023, capturing 12% of the total U.S. market share valued at $590 billion.

Statistic 77

U.S. household debt from consumer loans hit $17.5 trillion in Q1 2024, with consumer credit comprising 29% of total debt.

Statistic 78

Consumer lending originations in the U.S. surged 11% to $1.2 trillion in 2023, fueled by lower interest rates in late year.

Statistic 79

Projected U.S. consumer lending market to reach $6.2 trillion by 2028, growing at 5.8% CAGR from 2023 baseline.

Statistic 80

In 2023, online consumer lending platforms accounted for 25% of total U.S. loan volume, up from 18% in 2021.

Statistic 81

European consumer lending market expanded to €1.7 trillion in 2023, with 6.4% growth attributed to post-pandemic recovery.

Statistic 82

U.S. consumer lending market size reached $5.0 trillion in Q1 2024, up 4.8% YoY.

Statistic 83

Digital consumer lending grew 22% to $800 billion globally in 2023.

Statistic 84

Asia-Pacific consumer lending market at $1.2 trillion in 2023, CAGR 8.2% projected.

Statistic 85

U.S. unsecured personal lending subset $280 billion outstanding Q3 2023.

Statistic 86

Consumer lending fintech funding hit $15 billion in 2023 investments.

Statistic 87

Total U.S. consumer debt service ratio at 9.8% of disposable income Q1 2024.

Statistic 88

Payday lending volume $9.5 billion in U.S. 2023 fees collected.

Statistic 89

Peer-to-peer lending platforms originated $20 billion in 2023.

Statistic 90

U.S. personal loan originations reached $230 billion in 2023, up 13% YoY.

Statistic 91

Average personal loan amount in U.S. was $12,000 in 2023, with 48-month terms dominant.

Statistic 92

Online personal loan approvals averaged 75% for qualified applicants in 2023.

Statistic 93

Personal loan interest rates averaged 11.5% APR for prime borrowers in U.S. 2023.

Statistic 94

Debt consolidation drove 62% of U.S. personal loan uses in 2023.

Statistic 95

Fintech personal loans captured 45% market share in U.S., totaling $104 billion in 2023.

Statistic 96

Average personal loan delinquency rate was 3.8% in Q4 2023 for U.S. lenders.

Statistic 97

Women originated 52% of new personal loans in U.S. 2023, averaging $11,200.

Statistic 98

Personal loan balances grew 14% to $225 billion outstanding in U.S. 2023.

Statistic 99

Buy now pay later personal financing hit $24 billion in U.S. personal loan segment 2023.

Statistic 100

Superprime personal loan originations up 20% to $50 billion in 2023.

Statistic 101

U.S. personal loan charge-off rate reached 4.2% in 2023.

Statistic 102

35% of U.S. personal loans used for home improvements in 2023.

Statistic 103

Personal unsecured loan growth 16% YoY to $250 billion Q2 2024.

Statistic 104

Average personal loan credit score required 680+ in 2023.

Statistic 105

Personal loan for emergencies 28% usage rate U.S. 2023.

Statistic 106

Marketplace personal lending $60 billion originated 2023.

Statistic 107

Personal loan default rates 5.1% for non-prime borrowers 2023.

Statistic 108

Fixed-rate personal loans 92% of issuances U.S. 2023.

Statistic 109

Personal loan apps via mobile up 30% to 50 million in 2023.

Statistic 110

Credit union personal loans grew 10% share to 15% market 2023.

Statistic 111

Personal loan debt per borrower averaged $8,500 U.S. 2023.

Statistic 112

Installment personal loans vs revolving 70/30 split 2023.

1/112

Sources

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Even as household debt climbed to a staggering $17.5 trillion in the United States last year, the consumer lending industry continued its relentless expansion, reaching a massive $4.9 trillion market in 2023 and signaling a complex financial landscape of record demand alongside rising delinquencies.

Key Takeaways

In 2023, the U.S. consumer lending market size reached $4.9 trillion, marking a 5.2% year-over-year growth driven by rising demand for personal and auto loans amid inflation pressures.
Global consumer lending market was valued at $2.8 trillion in 2022 and is projected to grow at a CAGR of 7.1% from 2023 to 2030 due to digital lending platforms expansion.
U.S. revolving consumer credit (primarily credit cards) outstanding totaled $1.13 trillion as of Q4 2023, up 8.3% from the previous year.
U.S. credit card lending balances grew 9.1% YoY to $1.08 trillion in Q3 2023.
Average U.S. credit card interest rate reached 21.47% APR in Q4 2023, the highest since 1985.
45% of U.S. credit card users carried a balance over $1,000 in 2023, totaling $430 billion in revolving debt.
New U.S. auto loan originations totaled $168 billion in Q1 2024, down 1.2% YoY due to higher rates.
Average new auto loan amount in U.S. reached $40,300 in 2023, up 2.8% from 2022.
U.S. auto loan delinquency rate (60+ days) climbed to 3.1% in Q2 2024 from 2.4% in 2023.
U.S. personal loan originations reached $230 billion in 2023, up 13% YoY.
Average personal loan amount in U.S. was $12,000 in 2023, with 48-month terms dominant.
Online personal loan approvals averaged 75% for qualified applicants in 2023.
U.S. consumer loan serious delinquency (90+ days) rate was 1.6% in Q1 2024.
Credit card serious delinquency rate hit 6.4% in Q1 2024, highest since 2012.
Auto loan serious delinquency rate rose to 3.2% in Q1 2024 from 2.6% year ago.

The consumer lending industry is growing rapidly but faces rising debt and delinquencies.

Auto Loans

1New U.S. auto loan originations totaled $168 billion in Q1 2024, down 1.2% YoY due to higher rates.

Verified

2Average new auto loan amount in U.S. reached $40,300 in 2023, up 2.8% from 2022.

Verified

3U.S. auto loan delinquency rate (60+ days) climbed to 3.1% in Q2 2024 from 2.4% in 2023.

Verified

4Total U.S. auto debt outstanding hit $1.61 trillion in Q1 2024, a record high.

Directional

585% of new vehicle purchases in U.S. were financed in 2023, with average term 69 months.

Single source

6Used auto loan originations in U.S. fell 5% to $110 billion in Q4 2023.

Verified

7Average used auto loan interest rate hit 11.4% in 2023 for prime borrowers.

Verified

8Subprime auto loans comprised 20% of U.S. originations in 2023, totaling $42 billion.

Verified

9EV auto financing grew 40% YoY to $25 billion in U.S. 2023.

Directional

10Average monthly auto loan payment rose to $742 in 2023, up 7% YoY.

Single source

11U.S. auto loan balances for millennials averaged $22,000 in 2023.

Verified

12Refinanced auto loans dropped 15% in volume to $50 billion in U.S. 2023 due to rate hikes.

Verified

13Lease financing share of new autos increased to 32% in U.S. 2023.

Verified

14U.S. new auto loan rates averaged 7.18% for 60-month terms Q4 2023.

Directional

15Total auto loan delinquencies (30+ days) 4.1 million loans Q1 2024.

Single source

16Average auto loan term extended to 70 months for new cars in 2023.

Verified

17Used car loan balances $500 billion outstanding U.S. Q3 2023.

Verified

18Auto loan approval rates fell to 72% for subprime in 2023.

Verified

19Commercial bank auto loan share 60% of U.S. market 2023.

Directional

20EV auto loan originations $30 billion, average $45,000 loan size 2023.

Single source

21Auto lease delinquencies at 2.1% in U.S. Q4 2023.

Verified

22Gen X holds 35% of total U.S. auto debt $565 billion 2023.

Verified

23Auto loan refinances averaged 10% of originations 2023.

Verified

Auto Loans Interpretation

Americans are driving their financial future deeper into debt with record-breaking loans, soaring payments, and rising delinquencies, all while stretching the term to an almost laughable 70 months just to afford the ride.

Credit Card Lending

1U.S. credit card lending balances grew 9.1% YoY to $1.08 trillion in Q3 2023.

Verified

2Average U.S. credit card interest rate reached 21.47% APR in Q4 2023, the highest since 1985.

Verified

345% of U.S. credit card users carried a balance over $1,000 in 2023, totaling $430 billion in revolving debt.

Verified

4Credit card originations in the U.S. increased 7.2% to 192 million accounts in 2023.

Directional

5U.S. credit card delinquency rate (30+ days) rose to 3.2% in Q4 2023 from 2.8% prior year.

Single source

6Gen Z credit card adoption jumped 18% in 2023, with average balance of $2,500 per holder.

Verified

7Rewards credit cards held 55% market share of new U.S. issuances in 2023, driving $150 billion in spending.

Verified

8U.S. credit card payment fees generated $130 billion for issuers in 2023, up 10% YoY.

Verified

9Subprime credit card lending grew 12% in balances to $45 billion in U.S. 2023.

Directional

10Average U.S. household has 3.84 credit cards with total limits averaging $28,000 in 2023.

Single source

11U.S. credit card fraud losses reached $12.6 billion in 2023, a 15% increase YoY.

Verified

1228% of U.S. credit card holders maxed out cards in 2023 due to inflation.

Verified

13Credit card utilization rate in U.S. averaged 25.4% in Q4 2023, up from 24.1% in 2022.

Verified

14U.S. buy now pay later (BNPL) linked to credit cards hit $18 billion in volume 2023.

Directional

15Prime credit card accounts grew 4.5% to 180 million in U.S. 2023.

Single source

16U.S. credit card new account growth slowed to 2.1% in 2023.

Verified

17Average credit card limit increased to $13,000 per U.S. cardholder in 2023.

Verified

18Store credit cards saw 5% decline in usage, balances $50 billion 2023.

Verified

19U.S. credit card late payments (60+ days) up 30% to 10 million accounts 2023.

Directional

20Cash advance usage on credit cards rose 12% to $15 billion in 2023.

Single source

21Co-branded credit cards drove 25% of rewards spending $300 billion 2023.

Verified

22Credit card APR spread widened to 16% between prime/subprime in 2023.

Verified

2322% of U.S. adults have 6+ credit cards in 2023.

Verified

24Balance transfer credit card volume $80 billion in U.S. 2023.

Directional

25Credit card issuer profits from interest $105 billion in U.S. 2023.

Single source

Credit Card Lending Interpretation

While Americans are eagerly collecting more cards and chasing rewards, they're also collectively sinking deeper into a debt pool with historically high interest rates, suggesting the industry's generous offers might be the financial equivalent of free peanuts at a very expensive bar.

Delinquencies and Credit Risk

1U.S. consumer loan serious delinquency (90+ days) rate was 1.6% in Q1 2024.

Verified

2Credit card serious delinquency rate hit 6.4% in Q1 2024, highest since 2012.

Verified

3Auto loan serious delinquency rate rose to 3.2% in Q1 2024 from 2.6% year ago.

Verified

4Overall consumer credit charge-off rate for banks was 4.8% in Q1 2024.

Directional

5Subprime borrower delinquency rates in consumer lending averaged 9.5% in 2023.

Single source

6U.S. consumer loan net charge-offs increased 25% to $45 billion in 2023.

Verified

7Personal loan 30-day delinquency rate climbed to 4.1% in Q4 2023.

Verified

8VantageScore 3.0 average dropped to 715 in Q1 2024 amid rising delinquencies.

Verified

911.5% of consumers opened new credit accounts in past year as of 2023, correlating with higher risk.

Directional

10Mortgage serious delinquency steady at 0.6%, but consumer loans at 3.2% in Q1 2024.

Single source

11BNPL delinquency rates averaged 7.8% for U.S. consumers in 2023.

Verified

12Consumer credit risk index rose 15% in 2023 per FICO scores under 660.

Verified

13Bank net charge-offs on credit cards hit 4.5% in Q4 2023.

Verified

14Auto loan charge-offs reached 1.2% annualized in Q1 2024.

Directional

15Student loan delinquencies (consumer subset) at 7.4% transition rate in 2023.

Single source

16Consumer credit hardship rates up 20% in 2023 surveys.

Verified

17FICO score distribution: 30% below 700 facing higher delinquency risk 2023.

Verified

18Bank consumer loan provisions for losses $60 billion in 2023.

Verified

19Early delinquency bucket (1-30 days) 2.5% for consumer loans Q1 2024.

Directional

20Non-prime consumer credit risk premium 8% over prime 2023.

Single source

21Consumer loan forbearance requests down 40% but risks persist 2023.

Verified

22Credit bureau disputes related to delinquencies up 15% 2023.

Verified

23Regional variations: South U.S. delinquency 4.2% vs national 3.1% 2023.

Verified

Delinquencies and Credit Risk Interpretation

America's credit card is looking as maxed out and distressed as a tourist trying to cram a carry-on suitcase that is clearly three sizes too small, while the rest of the consumer loan portfolio is collectively groaning under the weight of rising rates, delinquencies, and the sinking feeling that this might not just be a temporary financial hangover.

Market Size and Growth

1In 2023, the U.S. consumer lending market size reached $4.9 trillion, marking a 5.2% year-over-year growth driven by rising demand for personal and auto loans amid inflation pressures.

Verified

2Global consumer lending market was valued at $2.8 trillion in 2022 and is projected to grow at a CAGR of 7.1% from 2023 to 2030 due to digital lending platforms expansion.

Verified

3U.S. revolving consumer credit (primarily credit cards) outstanding totaled $1.13 trillion as of Q4 2023, up 8.3% from the previous year.

Verified

4Non-revolving consumer credit (auto, student, personal loans) in the U.S. stood at $3.36 trillion in Q2 2024, reflecting a 3.1% annual increase.

Directional

5The fintech consumer lending segment grew 15% YoY in 2023, capturing 12% of the total U.S. market share valued at $590 billion.

Single source

6U.S. household debt from consumer loans hit $17.5 trillion in Q1 2024, with consumer credit comprising 29% of total debt.

Verified

7Consumer lending originations in the U.S. surged 11% to $1.2 trillion in 2023, fueled by lower interest rates in late year.

Verified

8Projected U.S. consumer lending market to reach $6.2 trillion by 2028, growing at 5.8% CAGR from 2023 baseline.

Verified

9In 2023, online consumer lending platforms accounted for 25% of total U.S. loan volume, up from 18% in 2021.

Directional

10European consumer lending market expanded to €1.7 trillion in 2023, with 6.4% growth attributed to post-pandemic recovery.

Single source

11U.S. consumer lending market size reached $5.0 trillion in Q1 2024, up 4.8% YoY.

Verified

12Digital consumer lending grew 22% to $800 billion globally in 2023.

Verified

13Asia-Pacific consumer lending market at $1.2 trillion in 2023, CAGR 8.2% projected.

Verified

14U.S. unsecured personal lending subset $280 billion outstanding Q3 2023.

Directional

15Consumer lending fintech funding hit $15 billion in 2023 investments.

Single source

16Total U.S. consumer debt service ratio at 9.8% of disposable income Q1 2024.

Verified

17Payday lending volume $9.5 billion in U.S. 2023 fees collected.

Verified

18Peer-to-peer lending platforms originated $20 billion in 2023.

Verified

Market Size and Growth Interpretation

While wallets are being digitally streamlined and optimism is algorithmically approved, the sobering reality is that we're collectively financing our present by taking out a massive, high-interest loan on our future, brick by digital brick.

Personal Loans

1U.S. personal loan originations reached $230 billion in 2023, up 13% YoY.

Verified

2Average personal loan amount in U.S. was $12,000 in 2023, with 48-month terms dominant.

Verified

3Online personal loan approvals averaged 75% for qualified applicants in 2023.

Verified

4Personal loan interest rates averaged 11.5% APR for prime borrowers in U.S. 2023.

Directional

5Debt consolidation drove 62% of U.S. personal loan uses in 2023.

Single source

6Fintech personal loans captured 45% market share in U.S., totaling $104 billion in 2023.

Verified

7Average personal loan delinquency rate was 3.8% in Q4 2023 for U.S. lenders.

Verified

8Women originated 52% of new personal loans in U.S. 2023, averaging $11,200.

Verified

9Personal loan balances grew 14% to $225 billion outstanding in U.S. 2023.

Directional

10Buy now pay later personal financing hit $24 billion in U.S. personal loan segment 2023.

Single source

11Superprime personal loan originations up 20% to $50 billion in 2023.

Verified

12U.S. personal loan charge-off rate reached 4.2% in 2023.

Verified

1335% of U.S. personal loans used for home improvements in 2023.

Verified

14Personal unsecured loan growth 16% YoY to $250 billion Q2 2024.

Directional

15Average personal loan credit score required 680+ in 2023.

Single source

16Personal loan for emergencies 28% usage rate U.S. 2023.

Verified

17Marketplace personal lending $60 billion originated 2023.

Verified

18Personal loan default rates 5.1% for non-prime borrowers 2023.

Verified

19Fixed-rate personal loans 92% of issuances U.S. 2023.

Directional

20Personal loan apps via mobile up 30% to 50 million in 2023.

Single source

21Credit union personal loans grew 10% share to 15% market 2023.

Verified

22Personal loan debt per borrower averaged $8,500 U.S. 2023.

Verified

23Installment personal loans vs revolving 70/30 split 2023.

Verified

Personal Loans Interpretation

Americans, in a bold display of financial choreography, are taking out record personal loans at 11.5% interest—primarily to consolidate their other debts—while fintechs and mobile apps cheerfully facilitate the entire, increasingly expensive, dance.