The bankcard defaults rose slightly, although defaults for other consumer loan categories dropped in March including autos, Standard & Poor's analysts noted this morning in an emailed note. 

This is a positive credit trend for asset-backed product, they said.

The S&P/Experian composite default index dipped to 1.96% in March from February’s 2.09%, and has decreased from 2.43% a year ago.

Meanwhile, March bankcard defaults rose six basis points to 4.47% from a month earlier and 5.59% a year ago, analysts noted.

The auto loan defaults decreased 11 basis points in March and were 1.47% a year ago.

The first-lien mortgage default rate went down 14 basis points to 1.88% in March from 2.33% a year ago.

 

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