Sep
15
2013

Bankcard default rate reaches new low despite overall default rate increase

After reaching post-recession lows in June, the July S&P/Experian Consumer Credit Default Indices showed that default rates increased slightly in several categories. While the national composite,* first mortgage and auto loan default rates all increased, the bankcard default rate continued to decline and hit a new low of 3.22%.

S&P/Experian Consumer Credit Default
Indices National Indices

Index

July 2013
Index Level

June 2013
Index Level

July 2012
Index Level

Composite*

1.35

1.34

1.51

First Mortgage

1.25

1.23

1.41

Second Mortgage

0.54

0.54

0.75

Bank Card

3.22

3.41

3.83

Auto Loans

1.03

1.00

1.01

Source: S&P/Experian Consumer Credit Default Indices
Data through July 2013

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Source: National Credit Default Rates Marginally Increased in July 2013

*The national composite is the overall consumer default rate across all products.

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