More than 174.8 million borrowers owed $1.11 trillion in total credit card debt in the third quarter. Mike Stewart/AP PhotoThe number of borrowers with excellent credit scores increased to nearly 41 percent in the third quarter, but the number of high-risk subprime borrowers was also up, credit reporting agency TransUnion reported on Nov. 3.The number of super prime borrowers—low-risk consumers with great credit scores—increased by 3.8 percent, or approximately 16 million additional consumers, from 2019 figures, TransUnion said in its latest credit insights report. However, those gains were countered by a greater number of consumers falling into the subprime category—borrowers who pose the most risk of credit default.
US Consumer Credit Profiles Diverge as Both Low- and High-Risk Borrowers Rise
Date:
