What was America's fastest-growing type of consumer debt in 2018? You may think credit card debt, given that revolving debt has topped the trillion-dollar mark – but according to new data from the credit reporting agency Experian, personal loans had the greatest percentage growth last year.

In 2018, outstanding personal loan debt grew by 11.9% to reach $291 billion. The growth rate of personal loans was double the growth rate of both credit card debt and student loan debt (5.9% and 5.8%, respectively). Personal loan growth rates nearly tripled the 4.3% increase in auto loans/leases and far outstripped the 2.8% increase in mortgages.


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