US Consumer Debt: How Americans Borrow Over $5 Trillion
Outside of their mortgages, Americans now owe more than $5 trillion — on credit cards, car loans, and student loans. This "consumer credit" has grown almost without pause for decades, dipping only briefly after the 2008 crisis. This guide breaks that total into its two big pieces, traces how it has climbed since 1990, and explains what's behind the seemingly unstoppable rise in household borrowing.
How much consumer debt do Americans have?
Total consumer credit outstanding has passed $5 trillion — and note that this figure excludes home mortgages, which are tracked separately and dwarf it. What's left is the borrowing people use for everyday life and big-ticket purchases: credit cards, auto loans, and student loans. Measured against 1990, the total has grown many times over, far outpacing inflation, as both the population and the use of credit expanded.
Credit cards vs. auto and student loans
Consumer credit splits into two categories. Revolving credit is mostly credit cards — balances you can carry and pay down flexibly. Non-revolving credit is fixed-term loans, dominated by auto loans and the enormous pile of student debt. Non-revolving is by far the larger of the two, reflecting how much car and education financing has grown. The stacked chart above shows both, and how each has expanded over time.
Why consumer debt keeps rising
Several forces push the total up year after year: a growing population and economy, rising prices for cars and college, and the steady normalization of borrowing for everything from electronics to medical bills. The only real interruption on the chart is around 2008–2010, when the financial crisis forced households to deleverage — pay down debt and borrow less. That pause was brief; the upward march resumed within a couple of years.
When does debt become a problem?
A rising debt total isn't automatically alarming — it partly reflects a bigger economy. What matters more is whether households can comfortably make payments, which depends on incomes, interest rates, and job security. The risk rises when borrowing costs jump (as credit-card and auto-loan rates did after 2022) or when incomes fall. Economists therefore watch debt relative to income and the share of borrowers falling behind, not just the headline trillions.
Frequently asked questions
How much consumer debt do Americans have?
More than $5 trillion in consumer credit — credit cards, auto loans, and student loans — not counting home mortgages, which are tracked separately.
Does consumer credit include mortgages?
No. The consumer credit figure excludes home mortgages. It covers revolving credit (mostly credit cards) and non-revolving loans (mainly auto and student debt).
What's the difference between revolving and non-revolving credit?
Revolving credit, like credit cards, has flexible balances you can carry and repay; non-revolving credit is fixed-term loans such as auto and student loans.
Why does consumer debt keep rising?
A growing population and economy, higher prices for cars and college, and wider use of credit all push it up. It dipped only briefly after the 2008 crisis.
Is rising consumer debt a problem?
Not by itself — it partly reflects a larger economy. The concern is whether households can afford payments, which depends on income, interest rates, and job security.