Americans’ Debt Styles by Age and over Time

Research Report

Americans’ Debt Styles by Age and over Time

November 16, 2015


This report reviews five years of consumer credit data on more than 5 million consumers from a major credit bureau to understand the debt styles of American consumers. While many patterns that emerged are not surprising, there were some unexpected findings: Consumers who have no debt have weaker credit scores than those who have debt; Consumers who have auto debt in combination with any other type of debt generally have lower credit scores than those who do not have auto debt with their other debt; Borrowers in their 20s and early 30s with both mortgage and student loan debt have higher credit scores than borrowers in their later 30s and 40s with the same combination; And those borrowers who hold only one type of debt generally hold less of that type of debt than those who hold more than one type of debt.


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