SYF - S&P/Experian Consumer Credit Default Indices indicate stability in September composite rate

S&P Dow Jones Indices and Experian released data through September 2021 for the S&P/Experian Consumer Credit Default Indices which indicates that the composite rate was unchanged at 0.39%; it represents a comprehensive measure of changes in consumer credit defaults. Quick look at the past 3-years S&P/Experian Consumer Credit Default Composite Index: The bank card default rate fell 24 basis points to 2.11% while auto loan default rate was up one basis point to 0.35% and the first mortgage default rate was unchanged at 0.27%. Three of the five major metropolitan statistical areas indicate lower default rates compared to last month; Miami had the largest decline, down eight basis points to 0.80% followed by New York with drop of four basis points to 0.40% while Los Angeles dropped three basis points to 0.31%; Chicago was unchanged at 0.43% and Dallas was two basis points higher at 0.43%. Credit card companies to watch: (NYSE:AXP), (NYSE:COF), (NYSE:DFS), (NYSE:SYF), (NYSE:ADS); out of these, American Express

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S&P/Experian Consumer Credit Default Indices indicate stability in September composite rate