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.