Loading...

Average debt amounts increase while average credit scores hold steady

May 27, 2014 by Stacie Baker

Experian’s most recent Credit Trends study analyzing current debt levels and credit scores in the top 20 major U.S. metropolitan areas found that Detroit, Michigan, residents have the lowest average debt ($23,604) and Dallas, Texas, residents have the highest average debt ($28,240).1

Nineteen of the 20 cities analyzed showed increases in their average debt amount compared with four years ago, which signals that lenders are continuing to ease lending standards. It’s also a reminder that lenders should monitor and adjust lending strategies regularly in order to compete effectively in the current lending environment.

Access the latest consumer credit trends and stay ahead of the competition by signing up for Experian’s quarterly credit trends Webinars.

Experian’s Credit Trends analysis: Average debt in the largest U.S. cities.

Related Posts

Know Your Customer (KYC) procedures are a requirement for banks and other financial institutions to collect and verify the...

March 21, 2024 by Stefani Wendel

In March's State of the Economy report, we provide insights into consumer spending, the housing market, originations, and more.

March 20, 2024 by Josee Farmer

This report provides a snapshot of the top monthly economic and credit data, including inflation, the housing marketing, and card balances.

February 29, 2024 by Josee Farmer