More Americans Have Access to Credit While Debt Growth Has Moderated
TransUnion's recent research indicates that consumer credit remains readily available despite economic uncertainty, and that credit usage continues to grow at a rate largely in line with inflation. These findings were published in TransUnion's Q2 2026 Credit Industry Insights Report (CIIR).
As of Q2 2026, approximately 262 million consumers were reported to have a credit balance, and total outstanding credit balances increased steadily, reflecting expanding credit participation and borrowing patterns consistent with previous years. Jason Laky, executive vice president and head of financial services at TransUnion, noted that lenders are broadly extending credit across the market while managing risk through strategies such as smaller credit lines.
Although borrower-level credit card delinquency rates increased year-over-year, balance-level delinquency rates remained relatively stable, dropping slightly to 1.98%. The report also highlighted that average non-mortgage minimum payments have increased modestly across various credit risk tiers, suggesting that most borrowers are managing their debt obligations at a pace that is manageable and generally below recent inflation rates. Michele Raneri, vice president and head of U.S. research and consulting at TransUnion, stated that despite some consumers facing financial challenges, the overall credit landscape suggests that balance growth aligns with consumers' ability to service their debt.
In the credit card sector, bankcard originations rose by 11.8% year-over-year in Q2 2026, reflecting a trend toward growth among lenders. Total bankcard balances increased by 4.4% over the same period. However, consumer-level delinquencies saw a slight uptick, attributed largely to an increasing subprime borrower population. Paul Siegfried, senior vice president and credit card business leader at TransUnion, expressed that the bankcard market has entered a growth phase, with lenders expanding access while maintaining a disciplined approach to risk management.
In the unsecured personal loan segment, outstanding balances reached a record $281 billion, up 9.6% year-over-year, primarily aided by an increase in borrower and account volumes, particularly among subprime candidates. Mortgage originations also grew significantly as borrowers capitalized on declining rates, although affordability challenges and rising delinquency rates among FHA loans have been noted. As for the auto loan market, origination growth remained modest, reflecting a consumer shift towards used vehicles amidst ongoing affordability concerns.