Bankcard delinquencies decrease year over year

Posted on Nov 09 2013 by

Credit trends from the most recent Experian–Oliver Wyman Market Intelligence Report point to a steady economic recovery. Bankcard charge-offs decreased 13 percent year over year (4.5 percent versus 3.9 percent) and delinquent dollars for the 90–180 day past due delinquencies decreased 17.5 percent for the same timeframe (1.6 percent to 1.3 percent). These trends are […]

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Delinquency rates remain low in Q2 2013

Posted on Nov 02 2013 by

Credit unions were the only type of lender to have their 30 day plus delinquency rate fall below 2 percent for several key product categories. The table below provides the delinquency rate by lender and product. 30 day plus delinquency rate Q2 2013   Auto* Mortgage Bankcard Credit unions 1.52% 1.36% 1.99% Banks 2.01% 4.91% […]

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Study shows consumer credit education can change credit behavior

Posted on Oct 27 2013 by

Personalized credit education can have a measurable impact on a person’s credit score. Consumers who used a personalized consumer credit-education service that offers one-on-one guidance and score simulation improved their average VantageScore® credit score by 21 points (684 to 705) and decreased their credit utilization by 15 percent. Download our recent Webinar: It’s a new […]

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More companies managing cyber security as a business risk

Posted on Oct 26 2013 by

The growing cost and number of data breaches has spurred more interest in cyber insurance. While companies often increase investments in technology and training programs to reduce the likelihood of a breach, a recent Ponemon Institute survey of risk-management professionals found that 31 percent of companies surveyed have cyber insurance and 39 percent plan to […]

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Increase in mortgage originations attributed primarily to home purchases

Posted on Oct 25 2013 by

The latest quarterly credit trends analysis by Experian shows that mortgage originations increased by 10 percent over one year ago. More importantly, the data shows a 29 percent increase in home purchases from the prior quarter and a decrease in refinance activity. Additionally, home-equity lines of credit (HELOCs) increased significantly (30 percent over last year), […]

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Bankcard originations continue steady growth while delinquencies decline

Posted on Oct 06 2013 by

According to a recent Experian analysis of Q2 2013 bankcard trends, bankcard origination volumes increased 21% year-over-year equating to a $12 billion increase in new bankcard limits. The increase was largely driven by the prime and near-prime segments which made up the majority of the $12 billion increase. Download our recent Webinar: It’s a new […]

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The most debt-free states

Posted on Sep 29 2013 by

According to data from Experian’s IntelliViewSM, Iowa residents carry the lowest average credit card balance per consumer in the U.S. with an average balance of $2,904, as of the second quarter of 2013. On the other end of the spectrum, the state with the highest average credit card balance is Alaska, where residents carry an average credit card balance of $4,706. New Jersey citizens are close behind with an average balance of $4,523.

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Auto financing continues steady growth

Posted on Sep 22 2013 by

According to Experian’s latest State of the Automotive Finance Market report, a record 84.5% of consumers who acquired a new vehicle in Q2 2013 used either a loan or a lease to fund the purchase – up from 82.5% in Q2 2012. Leases accounted for an all-time high of 27.6% of new vehicles financed during the second quarter, up from 24.4% in Q2 2012.

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Bankcard default rate reaches new low despite overall default rate increase

Posted on Sep 15 2013 by

After reaching post-recession lows in June, the July S&P/Experian Consumer Credit Default Indices showed that default rates increased slightly in several categories. While the national composite,* first mortgage and auto loan default rates all increased, the bankcard default rate continued to decline and hit a new low of 3.22%.

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Small-business credit index reaches highest point on record

Posted on Sep 08 2013 by

Small-business credit conditions strengthened in Q2 2013, lifting the Experian/Moody’s Analytics Small Business Credit Index 2.8 points to 111.7 – the highest level since it began tracking. Consumer spending growth was modest, but steady and consumer confidence is at multiyear highs. This is a reassuring signal that consumer spending is unlikely to backtrack in the near future. Furthermore, credit quality improved for every business size, with the total share of delinquent dollars 2.4 percentage points lower than a year ago and at the lowest point on record.

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