Experian released findings Friday on the credit card and mortgage payment behaviors of consumers both nationally and in the top 30 Metropolitan Statistical Areas (MSAs).
Nationally, since 2007, 20% fewer credit card payments are 60 days late, but 25% more consumers are paying their mortgage 60 days late.
The cities that showed the most improvements to bankcard payments include Cleveland; San Antonio; Cincinnati; Dallas; and Houston.
Cities that have made the least improvements to their credit card payments include Riverside, Calif.; Seattle; Tampa; Phoenix.; and Miami. The data also shows only four cities that improved in making mortgage payments: Cleveland; Minneapolis; Denver; and Detroit.
Below is a list of the percentage of change from 2007 through 2011. The first chart below ranks the top 30 cities from the most improved bankcard payments to the least improved and the second chart represents the percentage of change in late mortgage payments.
MSA Percentage change in improved bankcard payments (best to worst)
1. Cleveland, 34.7%
2. San Antonio, 30.5%
3. Cincinnati, 30.0%
4. Dallas, 28.8%
5. Houston, 28.6%
6. Boston, 27.7%
7. Detroit, 26.7%
8. Sacramento, 25.4%
9. Philadelphia, 24.9%
10. St. Louis, 23.8%
MSA Percentage change in missed mortgage payments (worst to best)
1. Portland, 99.9%
2. Phoenix, 78.4%
3. Baltimore, 66.8%
4. Seattle, 65.1%
5. New York, 49.4%
6. Philadelphia, 48.0%
7. Orlando, 44.3%
8. San Francisco, 43.0%
9. Los Angeles, 36.3%
10. Chicago, 31.2%
"In looking at the numbers, we're seeing that even in the cities at the bottom of the list, consumers are meeting their bankcard payment obligations better than before the recession," said Michele Raneri, vice president of analytics, Experian. "While the Experian data shows an overall improvement to these 60 day delinquencies, as much as a 30 percent improvement is seen in the key Texas cities, which is a positive sign in what has been a slow economic recovery."
