Middle class and high income consumers are struggling to pay off their debts
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GUEST - Jaco van Jaarsveldt, Head of Commercial Strategy and Innovation
at Experian Africa
Mid-to-high income South African households are finding it increasingly difficult to repay debt and continue
to make use of their credit cards. This is according to the Experian Consumer Default Index (CDIx) for Q4 of 2023.
The CDIx measures the rolling default behaviour of South African consumers with home loans, vehicle loans,
personal loans, credit cards and retail loan accounts. Data shows that all product-specific CDIx metrics changed for the worse year-on-year, from 3.97 to 4.68 - a change of 18%.
at Experian Africa
Mid-to-high income South African households are finding it increasingly difficult to repay debt and continue
to make use of their credit cards. This is according to the Experian Consumer Default Index (CDIx) for Q4 of 2023.
The CDIx measures the rolling default behaviour of South African consumers with home loans, vehicle loans,
personal loans, credit cards and retail loan accounts. Data shows that all product-specific CDIx metrics changed for the worse year-on-year, from 3.97 to 4.68 - a change of 18%.
