Credit Cornerstone Weekly Credit Trends and Data Intelligence
Consumers are paying less on monthly payments than three years ago
December 23, 2010

In a recent study focused on average monthly payments of the top 25 metropolitan areas, Experian® found that consumers are paying $903 per month on their bills, which could include a combination of credit cards, auto loans and leases, and mortgages – a decrease of 2 percent in the past three years.

"The trend we're seeing is that consumers have lower payments, indicating both proactive deleveraging by consumers and tighter limits from lenders, and certainly consumers are making fewer major purchases such as homes and cars than they were a few years ago," said Michele Raneri, Senior Director of Analytics, Experian.

View the breakdown by metropolitan area.

Source: Experian, Nov. 11, 2010, press release

November 2010
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