Average debt amounts increase while average credit scores hold steady

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.

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