S&P/Experian Consumer Credit Default Indices Show Third Straight Increase in Composite Rate in March 2021

Bank Card Default Rate at Highest Level Since August 2020

NEW YORK, APRIL 20, 2021: S&P Dow Jones Indices and Experian released today data through March 2021 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was one basis point higher at 0.54%. The bank card default rate rose 22 basis points to 3.15%. The auto loan default rate was down three basis points to 0.48% and the first mortgage default rate was unchanged at 0.37%.

Four of the five major metropolitan statistical areas (“MSAs”) showed higher default rates compared to last month. The rate for Miami increased seven basis points to 1.23% while Los Angeles rose six basis points to 0.50%. Chicago was four basis points higher at 0.59% and New York was up three basis points to 0.86%. Dallas was unchanged at 0.59%.

S&P/Experian Consumer Credit Default Indices Show Third Straight Increase in Composite Rate in March 2021: Graph 1

The table below summarizes the March 2021 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

S&P/Experian Consumer Credit Default Indices Show Third Straight Increase in Composite Rate in March 2021: Exhibit 1

The table below provides the index levels for the five major MSAs tracked by the S&P/Experian Consumer Credit Default Indices.

S&P/Experian Consumer Credit Default Indices Show Third Straight Increase in Composite Rate in March 2021: Exhibit 2


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