Accessible Version

An Overview of Credit-Building Products, Accessible Data

Figure 1. Credit-Building Outstanding Balances and Originations by Product Type

(a) Outstanding Balances
Millions

Quarter Secured Small-Dollar Loans Secured Credit Cards
2010:Q1 50.09 124.86
2010:Q2 49.94 129.24
2010:Q3 49.22 128.05
2010:Q4 48.34 127.86
2011:Q1 47.71 130.92
2011:Q2 48.02 131.40
2011:Q3 48.29 136.73
2011:Q4 47.81 140.65
2012:Q1 47.65 146.69
2012:Q2 48.30 162.81
2012:Q3 48.99 178.32
2012:Q4 49.34 198.92
2013:Q1 50.25 223.91
2013:Q2 52.63 244.10
2013:Q3 56.11 271.91
2013:Q4 58.31 298.64
2014:Q1 58.50 321.15
2014:Q2 57.88 336.21
2014:Q3 57.41 346.49
2014:Q4 58.94 355.27
2015:Q1 62.39 373.31
2015:Q2 65.06 375.91
2015:Q3 66.52 384.26
2015:Q4 68.15 390.79
2016:Q1 70.46 420.05
2016:Q2 73.78 433.45
2016:Q3 75.73 436.50
2016:Q4 73.53 435.10
2017:Q1 70.19 426.77
2017:Q2 67.02 430.17
2017:Q3 63.05 433.57
2017:Q4 60.18 462.39
2018:Q1 61.60 461.74
2018:Q2 68.91 473.48
2018:Q3 79.29 476.36
2018:Q4 90.97 467.25
2019:Q1 105.21 470.01
2019:Q2 119.56 476.40
2019:Q3 131.18 476.34
2019:Q4 143.05 470.41
2020:Q1 159.25 473.07
2020:Q2 225.39 389.35
2020:Q3 288.98 416.58
2020:Q4 369.25 455.92
2021:Q1 438.92 473.26
2021:Q2 481.35 497.10
2021:Q3 494.77 530.17
2021:Q4 493.41 549.18
2022:Q1 487.52 553.28
2022:Q2 469.97 564.77
2022:Q3 438.94 564.15
2022:Q4 409.23 552.05
2023:Q1 389.56 552.48
2023:Q2 374.31 537.25
2023:Q3 362.21 520.49
2023:Q4 356.54 519.38
2024:Q1 347.11 519.72

(b) Originations
Millions

Month Secured Small-Dollar Loans Secured Credit Cards
Jan-10 8.60 10.35
Feb-10 8.64 9.66
Mar-10 8.45 9.32
Apr-10 8.52 9.80
May-10 8.47 10.16
Jun-10 8.64 11.31
Jul-10 8.20 10.74
Aug-10 8.72 11.30
Sep-10 8.72 12.49
Oct-10 9.12 11.81
Nov-10 8.43 13.47
Dec-10 8.50 14.32
Jan-11 8.63 14.44
Feb-11 8.96 14.33
Mar-11 8.58 16.31
Apr-11 8.85 16.72
May-11 9.11 18.30
Jun-11 9.04 17.40
Jul-11 7.99 15.06
Aug-11 8.80 17.26
Sep-11 8.58 19.87
Oct-11 8.67 20.47
Nov-11 9.05 20.76
Dec-11 8.78 20.12
Jan-12 8.79 19.04
Feb-12 8.87 22.83
Mar-12 8.72 20.60
Apr-12 9.09 21.15
May-12 8.68 21.32
Jun-12 8.84 22.12
Jul-12 9.32 22.52
Aug-12 8.48 24.29
Sep-12 9.37 25.97
Oct-12 8.97 26.41
Nov-12 9.41 24.25
Dec-12 9.00 28.04
Jan-13 9.31 29.34
Feb-13 9.09 32.07
Mar-13 10.38 35.72
Apr-13 9.34 34.59
May-13 9.64 36.05
Jun-13 10.21 35.50
Jul-13 10.02 38.51
Aug-13 10.16 36.56
Sep-13 10.05 36.06
Oct-13 9.64 36.43
Nov-13 9.72 36.68
Dec-13 9.97 34.78
Jan-14 9.53 35.84
Feb-14 9.86 38.48
Mar-14 10.07 39.96
Apr-14 10.48 40.40
May-14 10.50 37.84
Jun-14 9.33 36.78
Jul-14 9.93 36.64
Aug-14 10.16 38.27
Sep-14 10.63 39.94
Oct-14 10.73 40.42
Nov-14 10.51 41.59
Dec-14 10.79 39.98
Jan-15 10.33 41.82
Feb-15 11.39 46.16
Mar-15 10.60 42.87
Apr-15 11.01 40.59
May-15 11.21 39.40
Jun-15 11.52 39.59
Jul-15 11.98 41.20
Aug-15 11.49 39.34
Sep-15 10.79 40.42
Oct-15 12.14 40.09
Nov-15 11.37 42.63
Dec-15 11.16 41.01
Jan-16 11.02 40.92
Feb-16 11.63 48.05
Mar-16 11.01 39.78
Apr-16 10.81 45.90
May-16 11.21 46.40
Jun-16 11.01 43.27
Jul-16 11.12 44.13
Aug-16 11.30 45.27
Sep-16 11.65 42.40
Oct-16 11.06 39.23
Nov-16 11.42 36.41
Dec-16 11.31 40.68
Jan-17 11.00 41.03
Feb-17 10.32 37.05
Mar-17 11.02 39.69
Apr-17 11.29 38.91
May-17 10.54 37.37
Jun-17 10.42 37.80
Jul-17 10.49 39.83
Aug-17 10.98 40.65
Sep-17 10.36 36.56
Oct-17 11.27 41.32
Nov-17 11.34 40.61
Dec-17 11.60 41.65
Jan-18 12.45 41.95
Feb-18 12.70 41.90
Mar-18 12.19 45.07
Apr-18 14.04 43.45
May-18 14.02 41.77
Jun-18 16.19 40.05
Jul-18 16.08 40.76
Aug-18 14.99 39.01
Sep-18 16.14 40.28
Oct-18 15.99 39.12
Nov-18 17.52 41.22
Dec-18 18.62 38.42
Jan-19 20.00 41.95
Feb-19 19.46 40.76
Mar-19 22.55 46.20
Apr-19 20.77 42.31
May-19 21.79 41.69
Jun-19 21.54 43.08
Jul-19 21.71 41.11
Aug-19 25.18 40.14
Sep-19 24.68 42.77
Oct-19 24.85 47.63
Nov-19 26.01 44.65
Dec-19 25.36 43.07
Jan-20 25.11 40.76
Feb-20 26.83 42.05
Mar-20 25.19 35.86
Apr-20 37.77 32.63
May-20 57.53 42.61
Jun-20 61.64 44.28
Jul-20 62.74 48.55
Aug-20 60.77 50.09
Sep-20 64.46 48.80
Oct-20 65.28 47.43
Nov-20 66.28 49.62
Dec-20 60.47 46.64
Jan-21 74.05 54.20
Feb-21 60.63 51.71
Mar-21 70.47 68.85
Apr-21 68.29 75.15
May-21 70.77 68.70
Jun-21 65.34 62.33
Jul-21 63.90 58.98
Aug-21 59.74 57.21
Sep-21 62.75 56.84
Oct-21 58.73 52.03
Nov-21 57.64 50.53
Dec-21 61.84 49.42
Jan-22 54.73 43.95
Feb-22 59.93 41.24
Mar-22 57.81 42.30
Apr-22 52.25 41.91
May-22 58.00 42.07
Jun-22 53.26 43.05
Jul-22 53.93 41.92
Aug-22 55.01 41.03
Sep-22 49.78 39.37
Oct-22 53.38 37.31
Nov-22 46.62 37.19
Dec-22 47.86 38.16
Jan-23 44.20 40.10
Feb-23 44.17 37.45
Mar-23 46.49 33.98
Apr-23 47.66 35.62
May-23 42.38 35.20
Jun-23 43.61 37.57
Jul-23 42.91 37.54
Aug-23 42.10 37.96
Sep-23 43.40 38.36
Oct-23 40.32 40.72
Nov-23 41.88 40.58
Dec-23 40.86 43.45
Jan-24 43.20 40.39
Feb-24 43.06 38.80
Mar-24 35.66 35.94

Note: The left panel shows the credit-building outstanding balances by product type. The right panel shows the monthly credit-building issuance by product type.

Source: Authors’ calculations using Federal Reserve Bank of New York Consumer Credit Panel (CCP)/Equifax.

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Figure 2. Credit-Building Originations by Risk and Age Group

(a) Originations by Risk Group
Millions

Month Deep Subprime Near Prime Subprime
Jan-10 4.30 10.93 3.33
Feb-10 4.24 10.58 3.46
Mar-10 4.01 10.44 3.33
Apr-10 4.21 10.83 3.46
May-10 4.20 11.22 3.28
Jun-10 4.46 11.76 3.47
Jul-10 4.09 11.79 3.48
Aug-10 4.07 11.96 4.04
Sep-10 3.94 12.72 4.24
Oct-10 4.08 12.99 3.88
Nov-10 4.23 13.87 4.09
Dec-10 4.78 13.09 4.78
Jan-11 4.32 13.55 4.97
Feb-11 4.46 14.25 4.78
Mar-11 5.14 14.71 4.99
Apr-11 5.38 15.15 5.26
May-11 5.58 15.55 6.10
Jun-11 5.26 15.85 4.99
Jul-11 5.53 13.26 4.57
Aug-11 6.67 13.79 5.72
Sep-11 7.48 15.18 5.94
Oct-11 7.92 14.72 6.52
Nov-11 8.33 15.06 6.56
Dec-11 7.53 15.28 6.25
Jan-12 7.99 14.06 5.98
Feb-12 8.56 15.47 6.78
Mar-12 7.40 15.37 6.33
Apr-12 7.98 15.12 6.76
May-12 8.02 15.37 6.52
Jun-12 8.23 16.22 7.15
Jul-12 8.54 16.71 6.89
Aug-12 8.46 17.41 6.95
Sep-12 9.08 19.06 7.07
Oct-12 9.06 19.47 6.94
Nov-12 8.55 18.71 6.99
Dec-12 9.56 20.00 7.51
Jan-13 9.87 21.46 7.40
Feb-13 10.34 21.92 8.31
Mar-13 11.42 24.65 9.08
Apr-13 10.98 24.82 8.30
May-13 10.73 25.86 8.97
Jun-13 11.44 25.05 9.27
Jul-13 11.37 27.31 9.73
Aug-13 11.52 26.20 9.23
Sep-13 11.15 25.35 9.62
Oct-13 11.15 25.88 8.92
Nov-13 11.16 26.18 9.72
Dec-13 11.12 24.22 9.71
Jan-14 10.49 25.21 9.92
Feb-14 12.15 25.57 9.81
Mar-14 12.56 26.08 10.15
Apr-14 12.63 26.99 10.49
May-14 11.67 26.83 10.18
Jun-14 11.73 25.46 9.28
Jul-14 11.97 24.99 9.53
Aug-14 12.54 26.72 9.34
Sep-14 13.01 27.84 10.23
Oct-14 13.04 27.92 10.54
Nov-14 13.56 28.05 10.36
Dec-14 12.82 28.37 9.98
Jan-15 13.82 28.40 10.30
Feb-15 15.84 28.98 11.12
Mar-15 14.16 28.00 9.61
Apr-15 13.39 27.48 9.79
May-15 14.94 25.95 10.14
Jun-15 15.04 26.36 10.78
Jul-15 14.60 28.16 10.72
Aug-15 14.20 26.54 10.29
Sep-15 14.40 26.57 10.68
Oct-15 14.89 27.88 10.50
Nov-15 15.79 27.87 10.82
Dec-15 14.59 26.64 11.19
Jan-16 14.45 27.11 10.58
Feb-16 17.20 29.25 11.85
Mar-16 15.46 28.40 14.25
Apr-16 16.11 28.45 12.16
May-16 16.00 29.88 11.77
Jun-16 15.50 29.09 9.83
Jul-16 16.29 28.98 10.14
Aug-16 16.30 29.92 10.35
Sep-16 16.11 29.05 9.77
Oct-16 14.16 27.55 9.08
Nov-16 13.96 25.99 8.48
Dec-16 15.15 27.94 9.60
Jan-17 15.20 27.16 9.29
Feb-17 13.03 25.49 8.60
Mar-17 14.78 25.19 8.91
Apr-17 13.84 26.22 9.25
May-17 13.56 25.94 8.66
Jun-17 13.29 26.77 8.88
Jul-17 14.09 27.10 9.05
Aug-17 15.04 26.89 9.53
Sep-17 13.62 25.31 9.21
Oct-17 15.70 27.29 10.18
Nov-17 14.91 27.32 9.72
Dec-17 16.40 27.94 9.25
Jan-18 16.45 27.82 9.48
Feb-18 16.76 27.89 9.47
Mar-18 16.76 29.23 9.52
Apr-18 17.97 29.25 9.45
May-18 17.82 28.61 9.32
Jun-18 18.37 29.28 9.85
Jul-18 18.40 28.77 9.98
Aug-18 16.45 28.46 9.56
Sep-18 19.08 27.86 10.27
Oct-18 18.43 27.30 9.96
Nov-18 19.67 29.22 10.71
Dec-18 19.72 27.79 10.41
Jan-19 21.32 29.51 10.82
Feb-19 20.50 28.75 10.75
Mar-19 24.31 29.58 12.29
Apr-19 20.84 28.92 11.18
May-19 21.40 30.74 11.63
Jun-19 22.27 30.65 12.45
Jul-19 21.50 29.82 12.09
Aug-19 22.97 31.41 12.35
Sep-19 21.21 35.12 11.39
Oct-19 21.21 34.31 11.99
Nov-19 25.26 34.45 12.37
Dec-19 23.59 34.38 11.78
Jan-20 23.11 32.18 11.14
Feb-20 23.40 34.31 11.88
Mar-20 22.78 25.79 10.51
Apr-20 28.80 23.95 12.67
May-20 44.20 36.45 19.58
Jun-20 44.25 40.44 21.66
Jul-20 46.18 42.86 22.76
Aug-20 45.82 43.38 22.70
Sep-20 48.98 42.65 22.77
Oct-20 45.45 44.52 23.31
Nov-20 49.91 44.62 23.32
Dec-20 45.34 42.51 22.65
Jan-21 54.03 51.73 28.11
Feb-21 44.25 47.66 23.12
Mar-21 57.94 52.85 24.94
Apr-21 57.98 55.39 24.25
May-21 60.87 53.36 24.68
Jun-21 57.71 46.92 23.44
Jul-21 55.21 46.80 22.05
Aug-21 53.71 44.43 20.53
Sep-21 53.56 44.22 22.04
Oct-21 49.46 42.07 20.39
Nov-21 47.84 42.99 19.49
Dec-21 51.31 41.89 19.63
Jan-22 44.75 38.37 17.56
Feb-22 47.21 39.35 17.64
Mar-22 42.89 38.29 18.09
Apr-22 36.76 38.26 17.41
May-22 41.52 40.52 18.63
Jun-22 41.97 37.33 16.35
Jul-22 42.93 37.49 16.20
Aug-22 42.92 37.27 16.28
Sep-22 37.99 35.97 15.93
Oct-22 37.37 36.70 16.10
Nov-22 33.76 35.38 15.20
Dec-22 35.48 36.75 14.51
Jan-23 34.25 36.74 13.90
Feb-23 33.56 35.68 13.75
Mar-23 34.40 33.76 12.84
Apr-23 35.14 33.43 13.19
May-23 33.09 32.59 12.94
Jun-23 32.96 35.58 13.42
Jul-23 32.02 35.00 13.65
Aug-23 31.75 35.14 13.42
Sep-23 34.74 35.16 12.62
Oct-23 33.98 34.79 12.42
Nov-23 35.21 34.30 12.68
Dec-23 34.53 35.42 13.61
Jan-24 34.92 34.41 14.14
Feb-24 34.02 34.68 13.75
Mar-24 27.07 32.49 12.08

(b) Originations by Age Group
Millions

Month 25 to 39 40 to 54 55 and Over Under 25
Jan-10 7.67 4.63 2.59 2.74
Feb-10 7.30 4.31 2.60 2.34
Mar-10 6.96 4.39 2.74 2.28
Apr-10 7.48 4.30 2.88 2.53
May-10 7.09 4.94 2.80 2.82
Jun-10 8.34 4.99 3.24 2.92
Jul-10 8.67 5.15 3.03 2.84
Aug-10 8.25 5.28 2.96 3.35
Sep-10 8.43 5.18 3.32 3.17
Oct-10 8.28 5.32 3.14 3.37
Nov-10 9.26 5.49 3.34 3.92
Dec-10 10.03 5.91 3.54 3.86
Jan-11 9.22 5.58 3.66 3.84
Feb-11 8.73 5.66 3.77 3.89
Mar-11 10.15 5.87 3.29 4.38
Apr-11 10.45 6.63 3.55 4.19
May-11 11.40 6.61 4.01 4.39
Jun-11 10.89 7.07 3.82 4.28
Jul-11 9.46 6.33 4.01 2.67
Aug-11 10.86 7.39 4.45 3.11
Sep-11 11.68 7.87 4.77 3.45
Oct-11 11.61 7.97 5.09 3.15
Nov-11 12.40 8.44 5.02 3.54
Dec-11 11.39 8.39 5.54 3.72
Jan-12 10.93 8.20 4.56 3.20
Feb-12 13.01 8.78 4.78 4.31
Mar-12 11.70 8.05 4.90 3.63
Apr-12 10.98 8.79 5.18 3.61
May-12 12.04 8.52 5.22 3.67
Jun-12 12.50 8.98 5.08 3.86
Jul-12 12.72 9.45 5.11 3.78
Aug-12 13.70 9.23 5.88 3.54
Sep-12 13.75 9.79 5.57 3.96
Oct-12 14.61 10.06 5.83 4.43
Nov-12 13.48 10.00 5.76 4.12
Dec-12 14.75 10.39 5.60 4.81
Jan-13 15.56 11.07 6.30 4.67
Feb-13 16.19 11.07 6.14 4.79
Mar-13 17.37 12.87 6.70 6.11
Apr-13 18.32 12.23 6.24 6.26
May-13 18.83 12.29 6.96 6.53
Jun-13 17.94 12.05 6.90 7.33
Jul-13 20.49 13.10 7.17 7.44
Aug-13 19.00 12.56 7.11 7.41
Sep-13 18.71 11.96 6.69 6.76
Oct-13 19.04 12.21 7.23 6.84
Nov-13 19.04 12.20 7.48 6.91
Dec-13 18.16 11.83 7.11 6.47
Jan-14 18.67 11.79 6.96 7.00
Feb-14 18.79 13.08 7.52 6.86
Mar-14 19.46 13.33 7.36 7.25
Apr-14 20.27 13.33 8.01 7.72
May-14 19.22 13.29 8.18 7.37
Jun-14 18.32 12.59 7.14 6.46
Jul-14 18.99 12.59 7.58 6.69
Aug-14 18.99 13.11 7.65 6.59
Sep-14 21.06 14.30 8.40 6.64
Oct-14 20.69 14.17 8.38 6.83
Nov-14 20.70 14.22 8.09 6.59
Dec-14 21.03 14.38 8.13 6.37
Jan-15 21.73 14.41 8.24 6.92
Feb-15 22.86 15.44 8.17 7.88
Mar-15 20.70 14.13 8.41 6.90
Apr-15 20.45 13.50 8.18 7.50
May-15 19.96 13.60 8.04 6.84
Jun-15 21.59 14.17 8.00 7.53
Jul-15 21.99 14.87 8.26 8.21
Aug-15 20.80 13.44 7.16 7.86
Sep-15 20.68 14.20 7.49 8.28
Oct-15 21.90 14.47 8.05 8.05
Nov-15 21.67 15.09 7.98 7.88
Dec-15 21.13 14.61 7.86 8.40
Jan-16 20.83 13.50 7.49 8.30
Feb-16 25.64 16.06 8.40 9.41
Mar-16 23.76 14.86 11.39 9.20
Apr-16 23.50 14.89 8.38 8.93
May-16 23.96 15.05 7.93 9.30
Jun-16 22.20 14.69 8.58 7.73
Jul-16 21.63 14.53 8.02 7.51
Aug-16 23.53 15.58 8.55 7.82
Sep-16 22.83 14.10 8.31 7.85
Oct-16 20.25 12.88 6.59 8.31
Nov-16 19.73 12.27 7.16 7.54
Dec-16 22.23 13.05 7.48 8.06
Jan-17 20.74 13.18 7.03 8.07
Feb-17 18.78 11.51 6.72 7.02
Mar-17 20.79 12.54 7.07 7.69
Apr-17 19.92 12.26 6.75 7.70
May-17 20.00 12.36 6.10 8.02
Jun-17 20.20 12.18 6.65 8.28
Jul-17 20.43 12.30 6.69 8.92
Aug-17 21.37 12.69 6.61 9.37
Sep-17 19.17 11.85 5.98 9.34
Oct-17 21.91 13.08 6.16 9.43
Nov-17 21.81 12.63 7.04 9.06
Dec-17 21.69 12.97 6.86 8.69
Jan-18 22.75 13.17 7.34 8.73
Feb-18 22.80 13.36 6.64 8.63
Mar-18 23.76 13.98 7.46 9.64
Apr-18 23.30 14.29 6.68 9.26
May-18 24.36 14.00 6.76 9.30
Jun-18 25.22 13.92 6.80 9.45
Jul-18 24.70 13.84 6.57 9.89
Aug-18 23.87 13.22 6.72 9.35
Sep-18 24.63 13.79 6.35 9.81
Oct-18 24.47 13.17 6.84 10.02
Nov-18 26.52 13.93 6.93 10.58
Dec-18 24.89 13.69 6.62 10.20
Jan-19 27.86 14.83 7.04 11.30
Feb-19 25.29 14.09 6.81 11.32
Mar-19 29.47 16.22 7.11 12.20
Apr-19 27.03 14.63 7.17 11.60
May-19 28.53 14.75 7.98 12.26
Jun-19 27.20 15.45 7.34 13.25
Jul-19 28.07 14.51 7.74 13.15
Aug-19 30.01 15.09 8.17 12.76
Sep-19 29.27 15.49 7.46 11.94
Oct-19 30.79 16.53 8.78 11.28
Nov-19 32.31 17.56 8.04 11.90
Dec-19 30.71 15.81 7.39 12.04
Jan-20 30.33 15.80 7.65 10.63
Feb-20 32.00 16.59 7.79 11.38
Mar-20 27.66 14.20 6.44 9.95
Apr-20 34.73 15.81 5.30 9.98
May-20 50.55 22.99 7.50 14.79
Jun-20 55.15 24.64 9.02 17.44
Jul-20 58.57 26.16 9.14 17.97
Aug-20 56.20 26.37 8.28 16.88
Sep-20 58.12 25.84 9.36 19.45
Oct-20 57.33 24.47 9.44 21.36
Nov-20 57.49 26.36 8.74 21.73
Dec-20 57.39 24.03 8.71 20.38
Jan-21 65.97 27.97 10.14 23.87
Feb-21 54.96 25.31 9.86 20.81
Mar-21 68.79 31.02 12.57 24.51
Apr-21 67.87 31.41 12.41 24.46
May-21 66.91 31.56 11.71 25.57
Jun-21 62.48 28.52 11.24 22.76
Jul-21 62.81 27.82 10.74 22.25
Aug-21 55.89 26.00 9.93 21.49
Sep-21 58.89 27.12 10.76 21.73
Oct-21 52.94 24.39 9.68 20.51
Nov-21 53.64 24.35 9.05 21.19
Dec-21 55.52 24.72 9.68 21.70
Jan-22 46.96 22.37 8.67 20.50
Feb-22 49.73 21.63 9.01 21.18
Mar-22 48.58 21.66 9.74 21.63
Apr-22 43.56 20.28 8.74 19.33
May-22 46.93 22.11 9.10 20.94
Jun-22 45.89 20.93 8.09 19.78
Jul-22 43.88 22.09 8.56 18.70
Aug-22 45.70 20.87 9.00 19.78
Sep-22 42.17 19.43 8.10 19.54
Oct-22 41.58 19.97 8.30 19.12
Nov-22 38.61 18.31 7.96 18.73
Dec-22 40.65 20.47 8.85 17.35
Jan-23 38.35 19.63 8.99 16.93
Feb-23 37.55 18.61 8.31 16.53
Mar-23 38.29 18.89 8.09 15.93
Apr-23 37.55 17.60 7.71 16.35
May-23 37.68 17.58 7.36 15.54
Jun-23 37.94 18.39 7.78 16.37
Jul-23 36.77 17.66 7.67 17.03
Aug-23 37.11 18.45 7.76 16.98
Sep-23 38.23 19.00 8.22 15.22
Oct-23 37.23 19.26 7.62 15.26
Nov-23 38.73 19.08 8.48 15.12
Dec-23 37.35 19.37 8.14 16.75
Jan-24 39.51 19.54 8.37 17.49
Feb-24 39.46 20.23 9.14 16.70
Mar-24 31.93 16.17 7.30 13.66

Note: The left panel shows the monthly credit-building issuance by risk group. The right panel shows the monthly credit-building issuance by age group. Data are seasonally adjusted.

Source: Authors’ calculations using Federal Reserve Bank of New York Consumer Credit Panel (CCP)/Equifax.

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Figure 3. Delinquency Rates by Product Type

Percent

Quarter Secured Small-Dollar Loans Secured Credit Cards
2010:Q1 2.94 6.24
2010:Q2 2.94 5.75
2010:Q3 2.75 5.00
2010:Q4 2.51 4.50
2011:Q1 3.15 3.93
2011:Q2 2.10 3.33
2011:Q3 2.14 3.48
2011:Q4 3.23 3.69
2012:Q1 3.08 3.94
2012:Q2 3.88 4.32
2012:Q3 4.03 3.97
2012:Q4 3.22 3.77
2013:Q1 4.01 3.80
2013:Q2 2.27 3.69
2013:Q3 2.83 3.75
2013:Q4 2.48 3.84
2014:Q1 2.84 3.75
2014:Q2 2.27 3.72
2014:Q3 2.86 3.73
2014:Q4 2.35 3.84
2015:Q1 2.60 4.06
2015:Q2 4.30 4.42
2015:Q3 4.58 4.23
2015:Q4 5.08 4.19
2016:Q1 4.07 4.18
2016:Q2 4.25 4.00
2016:Q3 3.62 4.12
2016:Q4 3.90 4.25
2017:Q1 3.46 4.06
2017:Q2 4.40 4.84
2017:Q3 3.02 4.82
2017:Q4 2.76 4.40
2018:Q1 3.34 4.22
2018:Q2 3.70 4.60
2018:Q3 5.02 5.28
2018:Q4 4.10 4.92
2019:Q1 4.54 4.56
2019:Q2 6.40 5.08
2019:Q3 6.40 5.42
2019:Q4 5.70 5.24
2020:Q1 5.90 4.75
2020:Q2 3.57 3.90
2020:Q3 4.50 3.88
2020:Q4 5.97 4.64
2021:Q1 6.28 4.60
2021:Q2 6.56 4.41
2021:Q3 9.10 6.24
2021:Q4 10.20 7.06
2022:Q1 10.26 8.17
2022:Q2 12.67 8.64
2022:Q3 13.63 9.05
2022:Q4 10.76 8.65
2023:Q1 10.12 9.41
2023:Q2 11.64 10.41
2023:Q3 12.81 9.85
2023:Q4 11.94 9.28
2024:Q1 11.72 9.71

Note: This figure shows the credit-building delinquency rates by product type.

Source: Authors’ calculations using Federal Reserve Bank of New York Consumer Credit Panel (CCP)/Equifax.

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Last Update: December 06, 2024