Infographic: Top US cities all improving on paying back debt

Miami shows biggest improvement over past 12 months

Consumers are getting better about paying back debt, according to data released in August, and Miami residents top the charts for the most drastic decrease in default rates.

The graphic below represents default rates of a composite of different types of consumer loans, including auto loans, bank cards, first mortgages and second mortgages, as compiled by S&P Dow Jones Indices and Experian, for five U.S. cities.

From July 2011 to July 2012, Miami saw more than a 50 percent decrease in its residents' default rates. In July of 2011, Miami's default rate was at 5.37 percent -- from there, it plummeted to 2.44 percent by June 2012 and continued to decrease to 2.39 percent by July 2012. According to the release, this is a post-recession low for the city's consumers.

New York residents came in second for default rate decreases -- from a rate of 1.8 percent in July 2011, to 1.49 percent one year later.

Of the various types of loans in the composite, bank cards had the most dramatic decline in defaults across the U.S., starting out with the highest rate at 5.64 percent in July 2011 and dropping to 3.83 percent in July of 2012.

Consumer credit default by US city  
To use this graphic on your site, use the following code:

 <center><a href=""><img alt=" Infographic: Consumers getting better about paying back debt" border="0" src="" height="325" width="344" /></a> </center>

See more infographics

Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.

Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.

Updated: 01-19-2019