Credit is showing some sharp divides right now. Total auto loan debt reached $1.61 trillion in Q3 2023, while delinquency is still elevated at 4.04% and subprime borrowers remain both a smaller share of originations and a far larger share of trouble. Meanwhile, US credit card debt is up to $1.08 trillion and card APRs hover around 20.65%, even as credit scores overall are inching upward, setting up a tense question for consumers trying to manage payments.
Key Takeaways
- Total auto loan debt hit $1.61 trillion in Q3 2023, up 2.7% YoY
- Average new auto loan amount $39,500 in Q3 2023
- Auto loan delinquency rate 4.04% in Q2 2023, highest in 9 years
- Total US credit card debt reached $1.08 trillion in Q3 2023, up 4.9% year-over-year
- Average credit card balance per household was $6,501 in 2023, per Experian data
- 47% of cardholders carry a balance month-to-month in 2023, averaging 17% APR interest
- As of Q2 2023, the average FICO Score in the United States was 715, representing a slight increase from previous quarters and indicating improving consumer credit health
- In 2022, 23% of consumers with FICO Scores had scores between 300-579 (poor credit), down from 25% in 2021, per FICO data analysis
- The median VantageScore 3.0 across all US consumers in 2023 was 689, with variations by state showing New York at the highest median of 710
- US household mortgage debt outstanding was $12.25 trillion in Q3 2023
- Average mortgage balance per borrower reached $252,000 in 2023, up 5%
- 30-year fixed mortgage rates averaged 6.81% in 2023
- Total student loan debt $1.60 trillion in Q3 2023, 43 million borrowers
- Average federal student loan debt $38,375 per borrower in 2023
- Student loan delinquency 7.42% post-pandemic in Q3 2023
Auto and credit card debt are rising while delinquencies stay elevated, showing tighter consumer credit conditions.
Related reading
Auto Loans
1Total auto loan debt hit $1.61 trillion in Q3 2023, up 2.7% YoY
Verified
2Average new auto loan amount $39,500 in Q3 2023
Verified
3Auto loan delinquency rate 4.04% in Q2 2023, highest in 9 years
Directional
4Average used auto loan $26,141 in 2023, APR 11.02%
Verified
5New auto loan terms averaged 69.6 months in Q2 2023
Verified
6Subprime auto loans (<620 FICO) 10% of originations, 20% delinquency
Verified
7Average APR new auto 7.18%, used 11.45% in Q3 2023
Verified
889% of new cars financed in 2023
Verified
9Auto loan balances per borrower $21,702 average in 2023
Single source
10Refinance share 15% of auto loans in 2023
Verified
11Gen Z auto debt $12,500 average, highest growth
Verified
12Lease originations 20% of new vehicles in 2023
Directional
13Auto loan approvals 75% for FICO 661-780, 40% subprime in 2023
Verified
14EV auto loans average $54,000, 8.2% APR in 2023
Verified
15Serious delinquency 1.7% for autos in Q3 2023
Verified
16Average down payment new car 11.5% ($4,500) in 2023
Directional
17Buy-here-pay-here loans 35% subprime, $15k average in 2023
Verified
18Auto debt growth 12% since 2020
Verified
19Women auto borrowers average FICO 710 vs. men 705 in 2023
Verified
2048-month auto loans APR 9.2%, 72-month 8.8% in 2023
Directional
21Repossessions up 20% YoY to 1,250 weekly in Q3 2023
Verified
22Average auto LTV 130% for used cars in 2023
Verified
23Credit union auto rates 1% lower than banks in 2023
Directional
Auto Loans Interpretation
The auto loan market is driving Americans to a precarious financial cliff, with record-breaking debt, soaring delinquencies, and repossessions accelerating as borrowers struggle under the weight of loans that often exceed the value of the rapidly depreciating cars they finance.
More related reading
Credit Cards
1Total US credit card debt reached $1.08 trillion in Q3 2023, up 4.9% year-over-year
Verified
2Average credit card balance per household was $6,501 in 2023, per Experian data
Verified
347% of cardholders carry a balance month-to-month in 2023, averaging 17% APR interest
Verified
4Average credit limit on new cards issued in 2023 was $5,863, up 11% from 2022
Verified
5Credit card delinquency rate hit 3.2% in Q2 2023, highest since 2012
Directional
6Gen Z credit card users average 3.9 cards each in 2023, with $2,000 average debt
Verified
7Rewards cards held 52% market share in 2023, driving 15% higher spending
Verified
8Average APR for credit cards was 20.65% in Q4 2023, per Fed data
Verified
944 million Americans opened new credit cards in 2023
Verified
10Credit card fraud losses totaled $10.7 billion in 2023, up 18%
Directional
11Average number of credit cards per US adult is 3.84 in 2023
Verified
12Subprime cardholders (<660 FICO) pay 25% APR on average vs. 14% for superprime
Directional
13Contactless payments on cards grew to 50% of transactions in 2023
Directional
14Millennial card debt averages $5,400, highest among generations in 2023
Directional
1527% of cardholders maxed out limits in 2023, risking score drops
Verified
16Store cards have 28.8% average APR, highest category in 2023
Directional
17Credit card spending surged 7.5% YoY to $3.5 trillion in 2023
Single source
1861% of Americans live paycheck-to-paycheck, relying on cards, 2023 survey
Directional
19Average rewards rate on cards is 1.5% cash back in 2023
Verified
20Buy Now Pay Later (BNPL) users grew to 90 million in 2023, overlapping with 40% card users
Verified
21Credit card issuers approved 65% of applications in 2023, down from 70%
Verified
22Late fees averaged $41 per incident in 2023, collected $14 billion total
Verified
23Women hold 1.5 fewer cards on average than men in 2023
Verified
24Travel rewards redemptions hit $50 billion value in 2023
Directional
25Zero-interest promo periods average 15 months on balance transfers in 2023
Verified
2636% of card debt is revolving vs. promo balances in 2023
Verified
27Average household with cards has $8,121 debt in 2023
Verified
28Student credit card debt averages $2,200 per borrower in 2023
Verified
Credit Cards Interpretation
Despite card issuers dangling increasingly higher limits and alluring rewards, Americans are collectively drowning in over a trillion dollars of high-interest debt, with nearly half carrying a balance month-to-month, proving that the house always wins when you're borrowing at 21% to chase 1.5% cash back.
More related reading
Credit Scores
1As of Q2 2023, the average FICO Score in the United States was 715, representing a slight increase from previous quarters and indicating improving consumer credit health
Verified
2In 2022, 23% of consumers with FICO Scores had scores between 300-579 (poor credit), down from 25% in 2021, per FICO data analysis
Verified
3The median VantageScore 3.0 across all US consumers in 2023 was 689, with variations by state showing New York at the highest median of 710
Verified
4Approximately 40 million Americans have subprime credit scores below 600 as of 2023, limiting their access to favorable credit terms
Verified
5FICO Scores above 800, considered exceptional, were held by 20% of US consumers in Q3 2023, up 2% year-over-year
Single source
6The average age of accounts on credit reports for consumers with good credit (670-739) is 12 years, compared to 7 years for those with poor credit, per 2023 Experian study
Verified
7In 2023, 67% of US consumers had access to at least one credit card, correlating strongly with FICO Scores above 700
Single source
8Utilization rates below 30% contribute to 30% higher FICO Scores on average, according to FICO's scoring model analysis in 2023
Verified
9States like Vermont and Minnesota had average FICO Scores over 730 in 2023, while Nevada lagged at 675, per FICO state rankings
Directional
10Delinquent accounts appear on 18% of credit reports as of 2023, severely impacting scores by an average of 100 points
Verified
11Generational breakdown shows Baby Boomers with average FICO 747, Millennials at 702 in 2023
Verified
12Hard inquiries reduce FICO Scores by 5-10 points on average and stay on reports for 2 years, per 2023 FICO research
Verified
1390% of top lenders use FICO Score 8 or 9 for underwriting in 2023
Verified
14Average FICO Score for new credit card approvals in 2023 was 722
Verified
15Credit scores recover an average of 40 points within 3 months after paying down debt, per Experian 2023 data
Verified
16Women in the US have an average FICO Score of 716 vs. 718 for men in Q3 2023, a narrowing gap
Single source
17Only 21% of subprime consumers (FICO <600) obtained new credit in 2023, vs. 45% of prime consumers
Verified
18FICO Score distribution: 28% very good (740-799), 21% exceptional (800+), 24% good (670-739) in 2023
Single source
19Average number of open credit accounts for FICO 800+ is 11.5, vs. 5.2 for poor scores, per 2023 study
Verified
20Bankruptcy on credit report lowers FICO by 240 points on average and lasts 10 years
Directional
21In 2023, 15% of consumers disputed errors on their credit reports, boosting scores by 20 points on average
Directional
22Average FICO Score by income: $100k+ households at 750, under $25k at 650 in 2023
Single source
23VantageScore 4.0, launched 2017, is used by 40% of lenders in 2023 for trended data
Verified
24Missed payments drop FICO by 90-110 points, with recovery taking 7 years for full impact fade
Single source
2562% of US adults have FICO above 700 in 2023, enabling better rates
Single source
26Immigrants have average FICO 30 points lower than native-born due to thinner files, 2023 data
Verified
27Average recovery time from score drop due to high utilization is 3-6 months, per FICO
Verified
28FICO Scores factor payment history at 35%, amounts owed 30%, length 15%, new credit 10%, mix 10%
Verified
29In 2023, average FICO for mortgage approvals was 754
Verified
3025% of thin-file consumers (under 1 year history) have FICO under 600
Single source
Credit Scores Interpretation
In a credit report snapshot of America, we're collectively polishing our financial halos, yet with 40 million still stuck in subprime purgatory, the path to creditworthiness reveals a sharp divide between those building history and those repairing it, with geography, age, and a single missed payment writing sobering footnotes to the national average of 715.
More related reading
Mortgages
1US household mortgage debt outstanding was $12.25 trillion in Q3 2023
Verified
2Average mortgage balance per borrower reached $252,000 in 2023, up 5%
Verified
330-year fixed mortgage rates averaged 6.81% in 2023
Directional
4Homeownership rate for those with FICO 760+ is 82%, vs. 55% for subprime in 2023
Single source
5Mortgage delinquency rate was 3.88% in Q3 2023, lowest since 2005
Single source
6FHA loans comprised 13% of originations in 2023, average balance $293,000
Verified
7Jumbo mortgages (> $766,550) averaged 7.1% rates in 2023
Verified
876% of mortgages in 2023 were purchase loans, 24% refi
Single source
9Average LTV ratio for new mortgages was 80% in 2023
Directional
10Mortgage applications fell 20% YoY in 2023 due to rates
Verified
11HELOC balances totaled $320 billion in Q3 2023, up 10%
Verified
1215-year mortgage rates averaged 6.21% in 2023
Verified
13VA loans had 2.99% average rate in 2023, lowest category
Single source
14Foreclosure starts at 0.33% in 2023, per CoreLogic
Single source
15Average mortgage payment rose to $2,225 monthly in 2023, up 10%
Verified
1691% of mortgages are fixed-rate in 2023 portfolios
Verified
17Debt-to-income ratio for approvals averaged 36% in 2023
Verified
18Reverse mortgages outstanding grew to $128 billion in 2023
Verified
19Millennial homebuyers 40% of purchases in 2023, average mortgage $309k
Single source
20Mortgage credit availability index at 20.5 in Dec 2023, tightest since 2014
Verified
21ARM share of originations 7.5% in 2023, up from 2%
Single source
22Underwater mortgages at 1.2% of total in Q3 2023
Verified
23Average points and fees on mortgages 1.2% of loan in 2023
Single source
24GSE-backed mortgages 60% of market in 2023
Verified
25Serious delinquency (90+ days) 0.85% for mortgages in 2023
Verified
Mortgages Interpretation
The American dream of homeownership now costs a small fortune, but at least borrowers are remarkably punctual with their payments—even if their wallets are audibly weeping.
More related reading
Student Loans
1Total student loan debt $1.60 trillion in Q3 2023, 43 million borrowers
Verified
2Average federal student loan debt $38,375 per borrower in 2023
Verified
3Student loan delinquency 7.42% post-pandemic in Q3 2023
Verified
4Private student loans average $38,000 balance, 12.5% rates in 2023
Verified
545% of borrowers owe under $10k, but top 10% owe 50% of debt in 2023
Single source
6Parent PLUS loans total $112 billion, average $28k in 2023
Verified
7Default rate on federal loans 11.1% over 3 years for 2019 cohort
Verified
8Average bachelor's degree debt $37,853 in 2023
Verified
9Forgiveness programs relieved $160 billion for 4.4 million in 2023
Verified
10Gen Z student debt $20,200 average, Millennials $33,000 in 2023
Verified
11For-profit college borrowers owe $110 billion, 15% default rate
Verified
12Income-driven repayment covers 40% of federal portfolio in 2023
Verified
13Average grad school debt $66,000 in 2023
Verified
1414% of debt held by those earning <$30k, struggling most
Single source
15Refinance volume $15 billion in 2023, lowering rates 3%
Verified
16Black borrowers hold 17% of debt but 33% repayment struggles
Single source
1790-day delinquency 0.9% federal, 2.5% private in Q3 2023
Verified
18Average monthly payment $393 in 2023
Verified
19Law school debt averages $145,000 in 2023
Verified
2056% of bachelor's holders borrowed, vs. 70% community college
Directional
21Deferment/forbearance 20% of borrowers in 2023
Verified
22Medical school debt $200,000+ average for 2023 grads
Verified
23Student debt to GDP 7.5% in 2023
Verified
24Average interest rate federal undergrad 5.5% in 2023-24
Verified
Student Loans Interpretation
America is treating its student loan crisis like a group project where 10% of the members do 50% of the work, everyone's grade is on the line, and the instructions are written in a language only accountants understand.
How We Rate Confidence
Models
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Single source
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Directional
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
Verified
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Models
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Samuel Norberg. (2026, February 13). Credit Statistics. Gitnux. https://gitnux.org/credit-statistics
MLA
Samuel Norberg. "Credit Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/credit-statistics.
Chicago
Samuel Norberg. 2026. "Credit Statistics." Gitnux. https://gitnux.org/credit-statistics.
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