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%.

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.

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

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